Downtown Sixth street block slated for redevelopment | Downtown Sixth street block slated for redevelopment | https://www.recenter.tamu.edu/news/newstalk-texas/?Item=15199 | 2016-12-02T06:00:00Z | 2016-12-03T00:05:00Z | AUSTIN – The University of Texas System Board of Regents made a pair of pivotal decisions recently that will shape Austin for years to come. The board approved spending $392 million from its endowment to build nine projects, including an Energy Engineering Building on the UT Austin campus.
Regents also instructed system staff to negotiate a ground lease with Trammell Crow Co. to redevelop a downtown block on Sixth St., turning it into dense mixed-use development that may help bridge the divide between two of Austin's most popular entertainment districts—East Sixth St. and West Sixth St.
The engineering facility, which will receive $100 million from the endowment to help cover its estimated $160 million price tag, is the most pressing need in the $392 million list of capital projects.
As for the lease with Trammell Crow, the block bordered by West Seventh, Colorado, West Sixth and Lavaca St. is a prime piece of downtown real estate.
System officials expect most of the current buildings will be razed and replaced with residential, commercial and retail space. | Austin Business Journal
| Austin-Round Rock
| Mixed-Use
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