News Ticker

NEW highrises breakground downtown


Demolition work has begun on the former Whitley Printing Co. building at East Third and Brazos streets in downtown Austin to make way for a 16-story tower with 277 luxury apartments planned by Austin-based Riverside Resources.

Riverside Resources’ tower will take a year and a half to complete, with the building ready for tenants by spring 2013, said John Needham, a principal with the firm.

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By Shonda Novak

AMERICAN-STATESMAN STAFF

For the first time in 40 years, the family trust of late “Peanuts” comic strip creator Charles Schulz is marketing a prime parcel just south of downtown that’s now home to a Hooters restaurant and a parking lot.

A half-dozen local and out-of-town developers and investors have submitted offers to buy or lease the property, said Harry Whittington, the Austin attorney for the California-based Schulz family trust. The developers are considering building residential, office, retail or hotel projects on the space, Whittington said.

The 1.4-acre triangular tract is bounded by Barton Springs Road, South First Street and West Riverside Drive. Schulz, who died in 2000, bought the land — roughly the size of a city block — when it housed a Pelican’s Wharf restaurant.

That purchase was among a series of restaurant and land acquisitions Schulz made as he bought real estate around the country to diversify his investments.

The purchases included a former Captain Boomer’s restaurant at 12602 Research Boulevard in Northwest Austin that became a Kerbey Lane Cafe and more recently, an Antonio’s restaurant that has shuttered.

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Marriott Marguis Convention hotel will soon break ground at 2nd and Congress.  At 33 stories, 403 feet high,  it will be Austin’s largest hotel with more then 1,000 rooms!

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Hyatt Place breaks ground – 15 stories at 204 feet high – 3rd and San Jacinto Boulevard

About Gregg Klar (386 Articles)
Austin creates an oasis of desirable communities that are touched by the beauty of it's presence. I'm one resident who considers myself fortunate to be a part of the Austin lifestyle. Combining a passion for my work with love for my community, I've earned my place among Austin's leading real estate professionals. I bring to every transaction a personal touch, innovative marketing techniques and in-depth knowledge of today's complex market to ensure your home sale or purchase is a success from start to finish. Put my team of experts to work for you today

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