The Austin Planning Commission gave permission for Plaza Saltillo to go ahead with a zoning change and increased building height, the Austin Business Journal reports.
The project, which spans eleven acres and is located east of I-35 at 5th street, will now move to the Austin City Council for final approval.
The project will have an office building, 800 apartments, and retail. Most of the apartments, 90%, will be one bedroom units.
Under the new zoning, the developers, Endeavor Real Estate Group and Columbus Real Estate Partners, can build up to 68 feet in most of the project with 70 feet allowed in one section. There will also be a taller office building at the front of the project closest to I-35.
The developers will pay Capital Metro more than $200 million over 99 years to lease the property.
Endeavor and Columbus asked for the extra building height to accommodate ground floor retail that will have 20 foot ceilings and apartments with 10 foot ceilings.
The plan will have 100 apartments reserved for seniors, 110,000 square feet of retail, and 120,000 square feet of offices. There will also be 1.4 acres of park space and a pocket park that connects East Fourth and East Fifth. San Marcos Street will no longer dead end at the railyard and will connect fourth and fifth.
Endeavor’s design calls for 141 affordable apartments, meaning the rents are affordable for those making half the median family income for Travis County. Endeavor will also contribute $660,000 to the city’s affordable housing fund rather than price another 40 units at the lower rate.
While originally 25 percent of the units were to be designated affordable, that deal was contingent on the city subsidizing about 10 percent of the affordable units. The city has since said they will not be paying for that additional 10 percent, so 17.6 percent of the total units will be affordable.
Are you anxious to live life on the East Side within the shadow of downtown? You don’t have to wait for Plaza Saltillo to be a reality! There are tons of cool apartments in the area ready to be your new home.
One of these apartments is Eastside Station, which has studio, one and two bedroom apartments with live/work units available. Apartments feature 9 foot ceilings, hardwood style flooring, 42” cabinets, granite counters, large walk-in closets, and included washer and dryers. This gated community has amenities like a fitness center with spin room, bike storage, a parking garage, elevator access and a rooftop lounge with fire pit.
Amli Eastside has a resort-style pool with cascading waterfall, garage parking with direct access on every level, a gourmet coffee bar, and an outdoor deck with poolside bar. The studio, one, two, and three bedroom apartments include full size washers and dryers, large walk-in closets, tile entries and faux wood floors, spa-like bathrooms with marble counters, and gourmet kitchens with granite counters, deluxe cabinets, and under cabinet lighting.
Corazon’s apartments are available in studio, one and two bedroom floorplans, have concrete or wood style flooring, granite counters and tile backsplashes, butcher block kitchen islands, included washer and dryers, oversized energy efficient windows, and use low VOC paints and finishes. The community is within walking distance of eastside dining and nightlife, has retail and dining on the ground floor, valet trash service, a rooftop deck with downtown skyline views, and is a LEED Certified Gold building.
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