Austin’s Lady Bird Lake Area to Undergo Major Developments
Three high-profile ventures are set to take flight on the southern strip of Austin’s key thoroughfare, Congress Avenue, thanks to the ambitious blueprints of New York-based real estate powerhouse, Related Companies. These projects will significantly transform the southern shores of the idyllic Lady Bird Lake, heralding a new era for the rapidly evolving waterfront region.
Known for its extensive global portfolio, Related Companies boasts over $60 billion in assets distributed across various cities worldwide. Its trio of Austin-based projects are planned near and along South Congress Avenue, with two south of the Ann W. Richards Congress Avenue Bridge and another near the Hyatt hotel at the bridge’s foot which provides a perfect view of Lady Bird Lake.
Reviving the South Central Waterfront District
Related Companies, like several prominent developers, is marking its territory in the South Central Waterfront District. The district, designated by the city, spans 118 acres of mostly privately-owned land south of the river. Here, the company’s latest venture is a mixed-use development planned for the southwest corner of West Riverside Drive and South Congress Avenue.
In a meeting with the city’s Environmental Commission, a representative from the company, Mike Iannacone, expressed Related’s intent to create an inviting atmosphere for both residents and visitors in the South Central Waterfront District. He also mentioned plans for incorporating established venues like Ego’s bar into the new project.
What to Expect From Related’s New Projects?
City filings reveal that the Congress and Riverside project will feature around 800 residential units, a 225-room hotel, extensive office and retail spaces, and a grocery store. In addition, the company plans to construct a pedestrian bridge to connect its proposed project with the Texas School for the Deaf campus.
Richard Suttle Jr., the land-use attorney working with Related, expressed his belief that the new project will enhance not only the South Central Waterfront District but also the downtown area. Commenting on the project’s design, Suttle quoted its pedestrian-friendly and aesthetically pleasing nature.
Additional Projects in the Pipeline
Besides the Riverside and Congress project, Related has two more significant projects planned in the vicinity – one, a housing development replacing the existing Hyatt hotel and the other, an office building on the site of a former apartment complex at 901 S. Congress Ave.
While the company refrained from providing further details about these projects, it was clear from its representations that the south shoreline of Lady Bird Lake is poised to witness extensive development activity in the near future.
Foreseeing the Transformation
Dave Sullivan, a member of the Environmental Commission, spoke about the need for a pedestrian-friendly environment that would beautifully coexist with the South Central Waterfront area. He commented favorably on the visuals presented by Related Companies in the recent meeting, envisioning a safe and attractive neighborhood that would bridge the gap between the district’s current status and its future potential.
Final Thoughts
If executed as planned, these projects will further accelerate the pace of change transforming South Congress Avenue and the larger South Central Waterfront District. Local authorities’ initiative to steer this development in a community-friendly manner by incentivising green space and affordable housing is also a positive step in molding Austin’s future urban landscape.