The site on East Cesar Chavez Street is now zoned commercial andmultifamily. Council will consider a recommendation from the cityplanning board to make the site part of the CBD, Greg Guernsey, aprincipal planner with Austin, told GlobeSt.com. "The rezoning willallow for greater height and density in the area," he says.

Vignette Corp., a software company which employs 2,300, planstwo to three, 25 to 30 story office buildings. Earlier this week,the city had suggested a $25 million incentive plan to sweetenVignette's move from its west Austin headquarters to downtown.Council members also will consider the incentive package, whichincludes waiving and reimbursement of fees, at their Dec. 14meeting.

Vignette Corp. is proposing to spend up to $7 million forimprovements to the downtown site. The city's offer would reimburseVignette for the company's planned improvements and clean up ofWaller Creek, a neglected stream that runs through the five-acresite.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

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