X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

AUSTIN-Hines Interests, headquartered in Houston, expects to get Austin City Council’s OK today to go forward with its project to build a 26-floor high-rise at Fifth and Congress in the city’s downtown.

The council is expected to approve zoning changes that would allow the building variances in setback and height rules. The changes have been approved by the city’s planning commission and recommended by city staff.

Construction, however, won’t start tomorrow, Carleton Rise, project manager for Hines, tells GlobeSt.com. “The next step is to get an architect on board and to figure this thing out a little further because basically all we’ve got right now are very, very conceptual plans,” he says. “So we need to do a little A&E work and start marketing the project.”

The project would call for demolishing the low-rise building at Fifth and Congress and constructing the new building on that spot. The new building and the existing tower next door would be connected by skybridges, Carleton says. When completed, “They should function as one building and feel like one building.” The new building would have office, parking and retail.

Hines is not concerned with the impact the current economic climate would have on the building. By the time it’s ready to go, the economy should be going as well.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

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

  • Free unlimited access to GlobeSt.com'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 ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.