On November 3, Austin City Council made the second of three necessary votes to rezone a site on the southern bank of Lady Bird Lake into a planned unit development. This project, headed by Endeavor Real Estate Group LLC, would redevelop this site, previously home to the Austin-American Statesman headquarters, into a monumental mixed-use high-rise complex.
305 South Congress Redevelopment
Running adjacent to the Ann W. Richards Congress Avenue Bridge, 305 South Congress is poised for residential, office, retail, and hotel space, as well as a new public park. If completed, this 19-acre project will transform the lakefront site, expanding the Central Business District to the southern bank of Lady Bird Lake. This entire development is expected to cost roughly $117.5 million.
Current plans for the site include 1,378 residential units, 150,000 square feet of retail space, 1.5 million square feet of offices, and a luxury hotel with 275 rooms. The retail portion of this development will consist of both retail and restaurant space and will span six towers, with its tallest reaching roughly 47 stories high. The 305 South Congress project also plans to include a new Blue Line light rail station as a part of the city’s long-term transportation plan, Project Connect, to provide easy access to Austin residents and a more connected community.
South Central Waterfront Initiative
The redevelopment of this waterfront site will also become an integral part of Austin’s vision to create a mixed-use environment on Lady Bird Lake’s south bank. This city-wide mission is known as the South Central Waterfront Initiative, which plans to reestablish the South Central Waterfront District as a “lively, safe, and attractive pedestrian environment” that prioritizes green spaces, a connected community, and affordable housing.
With transformative new developments like the 305 South Congress project, Austin is always on the brink of something incredible. Stay tuned on Austin developments with my blog, or contact me at tmcneil@kw.com.
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