The Related Cos. has announced plans for a new development in Austin’s South Central Waterfront District, which is expected to become a bustling and walkable neighborhood similar to the city’s Central Business District. The project, located across from Ladybird Lake, will reach heights of up to 575 feet and span approximately 50 stories.
This ambitious multitower project will feature 800 residential units, a 225-room hotel, office space spanning over 200,000 square feet , retail space totaling at least90 ,000 square feet , restaurants occupying30 ,000 square feet of space,and even a grocery store covering25 ,000squarefeet . Additionally,a state-of-the-art underground parking garage will be included in the development.
The South Central Waterfront District is designated asa tax increment reinvestment zone (TIRZ), established in2022to support redevelopment efforts within its118-acre area.TIRZs are an effective financing tool that allocates taxes collected from real estate improvements towards revitalization projects within specific zones.
With this exciting new addition to Austin’s skyline,the Related Cos.is poisedto make its mark on the cityand contribute towards creatinga vibrant communityintheSouthCentralWaterfrontDistrict.
