Downtown’s Tight Condo Market is about to get a Little Looser

Posted on Thursday, August 28th, 2014 at 7:19am.

No, we haven’t gone on a diet, but recent news from developer Constructive Ventures could have us breathing a little easier by 2018.

According to the Austin American Statesmen, plans for a mixed used development on the 1.7 acre block at Third Street and West Avenue, former home of the Austin Energy Control Center, will include up to 400 new condominium units. The project will be sited just north of the Seaholm Condominiums, currently under construction, and west of the popular 360, in walking distance of…well, just about everything!

Financing considerations will dictate the precise start date, but Constructive Ventures and partner developer Aspen Heights are aiming for the fourth quarter of 2015. Construction is estimated to take two and a half years. As currently conceived, the 50-story tower will also be home to 120,000 square feet of office space, plus 15,000 square feet dedicated to retail and restaurants.

At 50-stories, the tower will be second only to the Austonian in height. Yet architect Brett Rhode of Austin-based Rhode Partners promises to integrate it into the city with setbacks, green spaces and other architectural features. The aim, he says, is not just another generic highrise, but an iconic building for Austin’s beautiful skyline.

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