According to a story reported by KXAN news, the Green Water Treatment Plant in Austin will soon be transformed into a new $55 million development project.
Five different development teams have presented their development plans to the Austin City Council, all with the desire to transform the area into housing and shopping opportunities. The Council has set a few guidelines, however, including requiring the developer to offer 10% of the rental units to families with incomes of less than $57,000 per year.
The Green Water Treatment Plant was originally opened in 1925. The plant is set to be decommissioned at the beginning of next year, however, and developers are excited to transform the area into living space. Each of the five plans presented to the council include 1,000 condo units and one of the developers has plans to create a two-story H-E-B. In addition, all of the plans include adding restaurants and retail establishments at the bottom of the buildings.
The council is expected to vote on the issue on June 18, at which time it will select the developer. Construction will then be slated to begin in 2010.