Travis County scores $430 million deal on 308 Guadalupe St. development

Travis County will partner with Lincoln Property Company and Phoenix Property Company on a 99-year lease following a July 11 announcement.

Travis County will partner with Lincoln Property Company and Phoenix Property Company on a 99-year lease following a July 11 announcement.

Travis County closed on a $430 million deal Tuesday with Lincoln Property Company and Phoenix Property Company to develop a 77,215-square-foot downtown property once eyed for a future Travis County courthouse.

According to a county news release, the agreement will yield nearly $430 million in lease payments for the county over the next 99 years. These funds will help contribute to the cost of a new civil and family courts complex for the county, a project originally proposed in the November 2015 bond that was not approved by voters.

The county purchased the $22 million property at 308 Guadalupe St., Austin, from the Austin Art Museum in 2010, the release states. The development takes up the entire block, and the site is currently being used as a parking lot.

“We listened to the community when they told us that this Ddwntown block was an asset that should be available for private development,” County Judge Sarah Eckhardt stated in the release. “By establishing a smart, competitive procurement process, we are unlocking the potential of this block to contribute hundreds of millions of dollars in revenue to Travis County and its taxpayers that we can use to meet our ongoing urgent needs for new civil and family courts capacity.”

The Lincoln Phoenix team submitted the winning proposals in a bidding process that began in September 2016, after voters failed to approve bond financing for the court complex in the November 2015 election. The Lincoln Phoenix team propose to construct a vertical, mixed-use development.

Through the lease agreement, the development will put the property back on the tax rolls, creating long-term revenue for the county, city, Austin ISD, Austin Community College, and Central Health, according to the release.

The agreement also includes construction worker protection standards consistent with the City of Austin’s Better Builder Program; requires 10 percent of all housing on site to be affordable to low- to moderate-income residents, based on the city’s Density Bonus Program and entails a donation to the Austin Parks Foundation to support the ongoing restoration of Republic Square, just north of the development.


MOST RECENT

Skandanavia Contemporary Interiors to move to South Lamar Blvd.

Skandinavia Contemporary Interiors, a furniture store previously located on Anderson Lane, is preparing to …

Renderings show plans for a transit station as part of Capital Metro's Project Connect. (Rendering courtesy Capital Metro)
Changes to Project Connect plan add $60 million to local cost estimate

Capital Metro Board Chair Wade Cooper called the upcoming June 10 meeting to finalize the technical aspects of the plan "one of the most consequential votes this board has taken in its history."

A photo of two women walking on a trail with a quote from the story
Traditional summer outings may look different in Southwest Austin under COVID-19 guidelines to promote health, safety

Frome trails and parks to camps and water parks, here is what to expect from summer activities and destinations this season.

texas-reopening
LIST: What is open, closed in Texas and how businesses can operate

Texas openings are staggered with different opening dates and operating limits.

New Braunfels is the third-fastest-growing city in the U.S. from 2010-19, according to the latest census numbers. (Community Impact staff)
These 5 Central Texas cities are among the fastest-growing in the U.S.

Four of the five cities represent notable growth in Williamson County.

Lost Creek Limited District will begin charging a fee to enter at its entrance to the Barton Creek greenbelt. (Amy Rae Dadamo/Community Impact Newspaper)
Lost Creek board explains decision to charge fee for access to its entrance at Barton Creek greenbelt

Following a May 13 meeting during which Lost Creek Limited District officials voted unanimously to begin charging nonresidents to access the greenbelt from the Barton Creek low water crossing entrance point, board members have put out information further explaining their decision.

On a nearly empty South Congress Avenue, a resident plays guitar March 25. (Christopher Neely/Community Impact Newspaper)
Unemployment rate in Travis County shoots to 12.4% in April; Austin metro jumps to 12.2%

The local unemployment rate remains below the statewide and national rates.

All patients, residents and staff at Texas' 23 state hospitals and supported living centers are to be tested for coronavirus. (Courtesy Adobe Stock)
Texas to test all state hospitals, supported living centers for COVID-19

All patients, residents and staff at Texas' 23 state hospitals and supported living centers will be tested for coronavirus regardless of symptoms or exposure.

Hays County Judge Ruben Becerra is encouraging testing for residents. (Joe Warner/Community Impact Newspaper)
MAY 23 ROUNDUP: Top stories from this week in Central Texas

Read the most popular stories from the past week of Community Impact Newspaper's coverage of Central Texas.

With social distancing measures still in place, celebrate Memorial Day weekend from the comfort of your home with these takeout family packs. (Courtesy Hopdoddy Burger Bar)
MAY 25 ROUNDUP: Business updates from Central Texas

Read Community Impact Newspaper's coverage of Central Texas business news here.

The H-E-B located at 600 W. William Cannon Drive, Austin, will close in June. (Nicholas Cicale/Community Impact Newspaper)
South Austin H-E-B at William Cannon and First Street set to close in June

The H-E-B located at 600 W. William Cannon Drive, Austin, will close in June.

Mercer Street is home to the Dripping Springs business sector. (Nicholas Cicale/Community Impact Newspaper)
Dripping Springs forms committee to evaluate relief options for businesses impacted by COVID-19

The committee will create a new disaster-relief program for Dripping Springs businesses.