Airport safety, weird tower, I-35 slowdown – Urbanize LA
Austin
Austin developer StoryBuilt may have misused funds, per court filings “Struggling Austin real estate developer StoryBuilt may have used funds it raised for certain projects and funneled the money toward other projects.That’s according to a report from court-appointed receiver Stapleton Group, which said in a filing that StoryBuilt did not follow ‘typical accounting practices.'” (Lori Hawkins, Austin American-Statesman)
Austin wants to push brakes on downtown I-35 expansion “The $4.5 billion plan to lower and expand a portion of I-35 through downtown Austin may be postponed. Sharing concern for the project’s environmental impact, Austin City Council approved a resolution on Oct. 19 that called for the delay of the transformative project until another environmental study can be completed.” (Mike Christen, Austin Business Journal)
Austinites in the path of wider I-35 prepare to be pushed out “Houses, apartments, restaurants, health care providers, barbershops, strip clubs, gas stations, a tattoo parlor, a lingerie store, a vape shop and many other small businesses — including The Austin Chronicle — are getting swept away to make space for the highway.” (Nathan Bernier, KUT 90.5)
Wilson Capital plans apartment mid-rise in Central Austin “The multifamily developer has an 11-story apartment complex in the offing called Frio that would rise near 38th Street and I-35 in Central Austin. If plans proceed, it would add to Wilson Capital’s fast-growing portfolio across the metro, including the Wilson Tower in downtown Austin that should go vertical next year.” (Cody Baird, Austin Business Journal)
Austin’s office market is exploding. But no one is moving in. “The skyscraper known as ‘Sixth and Guadalupe’ is the most glaring example in the city that made a huge bet on the post-pandemic commercial real estate economy. While other cities worry about a glut of office space as workers resist returning to the familiar 9-to-5 grind, Austin’s challenges are Texas-sized.” (Rachel Siegel, Washington Post)
Austin’s Weirdest Tower Is Officially Under Construction at La Vista de Lopez “La Vista de Lopez is the working title for a nine-story senior housing tower now under construction at a tiny plot of land overlooking I-35 at 809 East Ninth Street. The project contains 34 residences in an extraordinarily compact design by local firm Hatch + Ulland Owen Architects, with a few 500-square-foot apartments on each floor.” (James Rambin, Towers)
How a Series of Air Traffic Control Lapses Nearly Killed 131 People “Austin is a microcosm of a systemic crisis. The safety net that underpins air travel in America is fraying, exposing passengers to potential tragedies like the episode in February.” (Sydney Ember and Emily Steel, New York Times)
300 apartment units to open soon in booming Pflugerville “Tacara at Weiss Ranch will have 300 apartment units and resort-style amenities, plus 12,000 square feet of retail space. The company behind the project, Casey Development LTD, is targeting a December opening.” (Shonda Novak, Austin American-Statesman)
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