AUSTIN (Austin Business Journal) — The proposed transformation of the old Austin American-Statesman property on the south shore of Lady Bird Lake has moved a step forward after years of planning, but community members are beginning to voice opposition of certain elements of the proposal.
The redevelopment of the former Statesman headquarters, at 305 S. Congress Ave., is expected to lead to a mixed-use hub spanning about 19 acres across the water from the Central Business District. Austin-based Endeavor Real Estate Group LLC is leading the project, which fits into the city’s wider plan to create more dense development under the South Central Waterfront Initiative.
Details of the development plan are still in flux, but the current proposal envisions up to 1,378 residential units, a 275-room hotel, 1.5 million square feet of office space and 150,000 square feet of commercial and restaurant space. To put that into perspective, the project could result in twice as much square footage as Barton Creek Square mall and a high-rise or two taller than the Frost Bank Tower.
Read the full story in the Austin Business Journal.