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City Plans Purchase of Two Downtown Blocks for Convention Center Expansion

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An aerial view of the Convention Center area of downtown Austin with the adjacent blocks expected to be purchased by the city highlighted in red. Image: Bing Maps. A rendering of the Block 16 tower recently announced at part of the site now being sought for purchase by the city. In addition to Gottesman and Karlin, other owners of the tracts assembled in these two blocks include entities associated with Ironwood Real Estate, World Class Capital Group, and the family trust of late investor William Bremond Houston. A marketing flyer circulated in showing a possible Railyard redevelopment shows the taller of the twin towers occupying the eastern half of the property now included in the assembly the city hopes to buy for a convention center expansion — note that the flyer also mentions the convention center expansion! This action is the first of a two-step approval process. The exclusive negotiating agreement ENA will allow the City, the landowners and developers establish more detailed specifications, including guaranteed maximum pricing for the acquisition and development of westward expansion of the Convention Center space. The transaction will include an estimated , square feet of convention space and related amenities. The second step of this process is anticipated for the Summer of , with a real estate purchase and sale agreement with accompanying documents. Once the expansion space is completed to the west, the Convention Center plans to work towards potential redevelopment of the current Convention Center space. There are separate items related to this action being brought by the Convention Center for a consultant for work related professional services for technical advising; by the Law Department for legal expenses and outside counsel; and by the Office of Real Estate for a consultant to provide services for the negotiation of the agreements moving forward. As this master plan update nears completion, a partnership has been struck with all land owners between Second Street, Trinity Street, Fourth Street and San Jacinto. This is an important step in moving forward with the West expansion. Image: Gensler Austin. James is an Austin native and fifth-generation Texan, but tries not to brag about it. Email him anything at rodeorambin gmail. Your email address will not be published. Notify me of follow-up comments by email. Notify me of new posts by email. Image: City of Austin. Let's Not Call This the P. Lot Size. Leave a Reply Cancel reply Your email address will not be published. Search this website. Loading Comments Email Required Name Required Website.

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