This week, the proposed Waller Center project has been in the news a lot… largely because a new rendering surfaced on the internet:
Back in May, we reported that the $500M project could reach 65 stories, making it the tallest in town. This week, the ABJ reported that the new tallest was moving forward… then posted another story with new information from The Sutton Company saying that it would not be Austin’s tallest after all.
In that story, the Sutton president Wally Scott noted that they were trying to max out the FAR (floor-to-area ratio) for the site, thus increasing the property value of the assembled parcels. It should be noted that Sutton has not developed any mega-projects of this scope, so a sale is certainly not out of the question. If Sutton can get the site through the early stages of the permitting and/or entitlement process and increase the FAR, the site would be more valuable to a potential buyer who has experience with projects this large.
A site development permit application has not yet been submitted to the City for this project, so it is unclear what the Waller Center will end up looking like. We will post updates on this project as more information becomes available.