Downtown Sixth street block slated for redevelopmentDowntown Sixth street block slated for redevelopmenthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=151992016-12-02T06:00:00Z2016-12-03T00:05:00Z

​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
http://www.bizjournals.com/austin/news/2016/11/10/ut-clears-way-for-downtown-tower-160m-engineering.htmlRead more at the {Source}

 Search NewsTalk Texas