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Poleyard Residential Development

Summary

The Austin City Council has identified housing as a priority for downtown development. They have directed City staff to study the feasibility of a public-private partnership with Post Properties, Inc. for residential development at the Poleyard site (see map) owned by the City's Austin Energy.

Status

On December 12, 1998 the City Council approved a resolution authorizing the City Manager to negotiate and execute an Agreement to Lease and a Ground Lease of the Poleyard Property with Post Apartment Homes, L.P. Construction is expected to begin in August.

Description

On November 6, 1997 the City Council approved a resolution directing the City Manager to study the feasibility of entering into a letter of intent with Post for the construction of a residential project at the Poleyard site owned by the City's Austin Energy.

The design of the project includes 250 apartment units, an integrated parking garage and a small amount of "flex" space allowing businesses with living space above.

In association with this project the Department of Public Works and Transportation will be constructing a one block long segment of W. 3rd St. from Bowie St. to West Ave. The Watershed Protection Utility has committed to funding some erosion control improvements to Shoal Creek in the area, and the Parks and Recreation Department has some ISTEA funding for trail repairs and improvements.

Basic Data

Project Contact: Michael Knox, Development Services Process Coordinator,
Planning, Environmental and Conservation Services Department, 499-6418

Revised February 8, 1999

Back to the January 1999 Contents


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