AUSTIN-Luci Baines Johnson’s LBJ Holding Co. is abandoning plans to transform a downtown Austin office building into a 40-unit luxury condominium unit.

Company officials say the Gracy Title Building project, 220 W. Seventh St., has been unable to attract sales necessary to push it ahead, according to a published account. The units were being offered at $430,000 to more than $1 million. Pre-construction costs reportedly totaled close to $1 million.

The company is csaid to be onsidering a replacement project that calls for development of the Sand Beach Reserve at Town Lake and Lamar Blvd. That property is owned by Lumbermen’s Investment Corp., which is locked in a lawsuit with the city over the property’s development.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper

GlobeSt. Multifamily Fall 2024Event

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.