Trammell Crow Shares Timeline for Austin Development

September 28, 2010

The city of Austin has chosen a partnership between Trammell Crow Company (TCC), Austin developer Constructive Ventures Inc. (CVI) and San Antonio-based USAA Real Estate Company (USAA RealCo) to redevelop a five city blocks in downtown Austin.

The site, where the Green Water Treatment Plant and the adjoining Austin Energy Control Center sit along the north bank of Lady Bird Lake, together represent Austin’s largest downtown redevelopment effort to date. The plan includes delivering a LEED (Leadership in Energy and Environmental Design) Gold certification on the entire project, including buildings outfitted with solar thermal collectors, double skin membranes, solar screens, and vegetated roofs.

The team’s conceptual proposal, designed by Mithun Architects and Planners of Seattle, includes 2.6 million square feet of development, including office, retail, for-sale residential, for-rent residential, hotel, assisted living, and public space. The development would include 5,200 parking spaces, with a 1,800-space three-level underground parking garage and a garage area to include spaces for Austin Car Share and electric car plug-in stations.

The city of Austin will be responsible for administering contracts for deconstruction and demolition of the Green Water Treatment Plant and Austin Energy Control Center over the next two years, according to Trammel Crow project manager Tim McCabe. Neither site is believed to be a brownfield. Trammel Crow then expects to advertise contracts for construction, beginning with the underground parking garage, in 2010. “Vertical development will begin about four to five years out,” said McCabe. “The market will dictate the rate of development.”

“We expect for there to be multiple construction contracts and many opportunities for contractors,” said John Heffington, associate with Trammel Crow.

“We plan to work diligently to exceed the high M/WBE standards,” added McCabe.