Texas Developer Pitches New Plan for Lane Avenue Site
A new plan to replace the Harrison Apartments building at 222 W. Lane Ave. with a mixed-use development has been submitted to the city.
A previous proposal for the site – which called for 361 apartments, 22,000 square feet of office space, a parking garage, and ground floor commercial space – had already won zoning approvals from the neighborhood, the Development Commission and City Council, and was on track to begin construction soon.
That project was to be developed by locally-based Arcadia Development, in partnership with InnTown Homes & Apartments and land owner Robert Talbott.
The new proposal, from Austin-based Lincoln Ventures, would fit a similar number of apartments onto the same site footprint, but in a shorter building. The seven-story structure would hold 370 units (with 950 beds), over 10,000 square feet of restaurant space, and a garage with space for over 500 cars. It would not contain any office space.
The University Area Commission’s zoning committee approved the new plan at its meeting earlier this week, and it is scheduled to move on to the full commission soon.
Scott Patton, Managing Partner of Arcadia Development, told CU that Lincoln Ventures approached his team with an offer for the site after all of the approvals had been secured.
“When we start a project it is always our intent to see the project through from start to finish but in this unusual case the [joint venture] made the decision to accept a pre-construction offer from Lincoln,” he said. “I am very happy with the great work our entire development team provided. We added value and established the foundation for the redevelopment of the site which will be a great economic boost for the community.”
Patton said the decision to accept Lincoln Ventures’ offer will allow his company to focus on other projects, such as the redevelopment of the Golden Bear shopping center in Upper Arlington.
As for the new proposal, after being heard by the University Area Commission, it will need to go before both the Development Commission and City Council to get the go-ahead to move forward.
Another Austin-based developer, Parallel, recently broke ground on a student housing development on the other side of campus – a five-story, 143-unit building on East Ninth Avenue.