We toured the old City of Austin power plant with John Rosato, Broker for Southwest Strategies Group. They are one of three principal organizations who make up the development team...Centro Partners and La Corsha Hospitality Group are the other two. This is a public-private development and is located in the heart of downtown and just across the street form Town Lake hike and bike trails. They plan to have a rail hub, trolley hub and a bicycle station on site. There is going to be 60 condos and penthouses with a boutique hotel as well as office/retail. They are keeping the original structure and smoke stacks and gutting the building to make it into a retail/mall atmosphere. The inside of the building is pretty cool, especially where the big generators/turbines sat which have been removed and and the columns will soon be removed as well creating very large open spaces.
While waiting for the economy to turn positive and secure the funding needed to complete it, they have done some unique leases in the facility for private parties and even Paramount Pictures leased it for a month to film a movie.
This appears to be a significant project which will require funding in a time that is very difficult to secure. I wish them all the best and much success in the very near future. When completed it will be a the epitomy of urban living.
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