The Austin urban landscape has been changing drastically every day so far in 2007. We’re not developing at the rate of Dubai, but my how things are changing. Most of the attention lately has been focused on two new urban villages, The Domain and Mueller Redevelopment which seemed to sprout overnight, but my attention is elsewhere.
I had the privilege of meeting with John Rosato, managing partner for Seaholm Power, LLC earlier this week. John spoke to me and a few associates at my brokerage about a future (re)development that will be focused around my favorite architectural landmark in all of Austin, the Seaholm Power Plant.
After hearing about the effort to preserve the historic, art-deco structure in addition to creating 275,000 sqft of luxury, residential condominium space (right on Town Lake), I couldn’t help but think about the many ways I will begin saving up for a down payment in 2009 when completion is expected. After studying the plans and talking to John, I believe this site will be particularly significant to the urban core of Austin as a result of the transit oriented approach the development team is taking.
The Seaholm Power Plant has sat dormant for nearly 20 years. I’m excited to see the site will soon be restored and functioning as a power source for community building and social capital in Austin for many years to come. (Someone please inform Robert Putnam, we’ll no longer be Bowling Alone!)
John Rosato mentioned, “The units could cost from about $450,000 for about 1,200 square feet to more than $1 million for the largest 3,000 square foot units.” So maybe I should’ve said, ”Those who can afford the down payment won’t be bowling alone…” I’m hoping to get the Seaholm pioneer discount.
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