{"id":1004055970,"date":"2012-10-26T07:03:41","date_gmt":"2012-10-26T15:03:41","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=76725"},"modified":"2021-05-14T13:55:32","modified_gmt":"2021-05-14T21:55:32","slug":"apartment-project-at-runtex-site-gets-green-light","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/apartment-project-at-runtex-site-gets-green-light\/","title":{"rendered":"Apartment Project at RunTex Site Gets Green Light"},"content":{"rendered":"<p>By Camelia Bulea, Associate Editor<\/p>\n<p><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/10\/alliance-residential-austin.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignright size-medium wp-image-76726\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/10\/alliance-residential-austin.png\" alt=\"\" width=\"300\" height=\"198\" \/><\/a>The Austin City Council has recently approved a zoning change that allows developers to move ahead with a six-story apartment project worth $35 million in downtown Austin. Phoenix-based Alliance Residential Co. plans to build about 220 luxury apartments on the 1.53-acre site that is currently occupied by a RunTex store near Lady Bird Lake, reports the<em> Austin-American Statesman<\/em>. Additionally, the project will include retail space, a public plaza and two levels of underground parking.<\/p>\n<p>Back in May 2012, the <em>Austin Business Journal<\/em> reported that Alliance Residential submitted its conceptual plan to the city, but the project drew opposition from Save Town Lake\u2014a group formed to protect the Lady Bird Lake waterfront from over-development. Those in opposition said the development, as proposed in the spring of this year, exceeded the 60-foot height limit specified in the city\u2019s waterfront overlay ordinance.<\/p>\n<p>According to the<em> Statesman<\/em>, the mixed-use project will be around 79 feet tall.<\/p>\n<p>On the other hand, council members voting in favor of the project reckon that Alliance\u2019s high-density development is a catalyst for the type of development the city envisions for the south downtown area.<\/p>\n<p>The project could break ground in the spring of 2013.<\/p>\n<p>In other news, a new mid-rise apartment tower could be erected just south of downtown Austin, according to <em>YNN<\/em>. In order to build the apartment tower, proponents argue that the Taco Cabana at South Lamar and Riverside Drive should be taken down, but restaurant owners say they plan to remain on that spot, adds the publication.<\/p>\n<p><em>Photo rendering of Alliance\u2019s Dakota Springs Apartments in Austin, courtesy of Alliance Residential Company.<\/em><\/p>\n<p>For more news from Austin, <a href=\"https:\/\/www.multihousingnews.com\/news\/market-snapshot-employment-growth-in-austin-outpaces-both-state-and-nation-leading-to-voluminous-rent-increases\/1004064640.html\" target=\"_blank\" rel=\"nofollow noopener\"><strong>click here<\/strong><\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Austin City Council has recently approved a zoning change that allows developers to move ahead with a six-story apartment project worth $35 million in downtown Austin.  <a href=\"https:\/\/synd.yardi.com\/geography\/national\/apartment-project-at-runtex-site-gets-green-light\/\">Continue reading <span>&#8594;<\/span><\/a><\/p>\n","protected":false},"author":1269,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1578,21742],"tags":[],"class_list":["post-1004055970","post","type-post","status-publish","format-standard","hentry","category-austin","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Apartment Project at RunTex Site Gets Green Light - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/apartment-project-at-runtex-site-gets-green-light\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Apartment Project at RunTex Site Gets Green Light\" \/>\n<meta property=\"og:description\" content=\"The Austin City Council has recently approved a zoning change that allows developers to move ahead with a six-story apartment project worth $35 million in downtown Austin. 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