According to the Dallas Business Journal, the Austin City Council has made its decision about developing the Green Water Treatment Plant area. In a unanimous decision, the Council selected partnership through Trammell Crow Co to complete the amazing transformation.
This redevelopment initiative will be the largest one to ever take place in the downtown Austin area and is expected to have quite an impact on the Austin economy. In fact, the development is expected to offer numerous employment opportunities and will bring in up to $700 million in taxes.
The new development, which can be seen in the rendering above, will include lodging, retail space, apartments, condos, and offices. In all, the development will comprise of 2.6 million square feet of residential and commercial space. It will also feature 5,200 parking spaces and an underground parking garage. As part of the Council’s requirements, 25% of the rental units will be made affordable to families that meet certain income restrictions. In keeping with Austin’s initiative to be a greener city, the new development will also work toward achieving LEED Gold status for all of its buildings by utilizing an eco-friendly design and by taking steps to reduce energy use by 50%.