A dramatic change is in store for Austin’s skyline, as plans move forward on what now has become a 58-story tower that would be the city’s tallest building.
The Independent would rise 685 feet on downtown’s southwestern edge, eclipsing the Austonian condominium high-rise in downtown Austin by two feet and two stories.
The Independent would bring 370 new luxury condominiums to market, priced from the mid-$300,000s to more than $3 million, the developer said. The project features a contemporary, tiered design by its architect, Austin-based Rhode:Partners.
The developers planning the project, Austin-based firms Constructive Ventures and Aspen Heights, said they expect to announce a groundbreaking date and construction schedule within a few months, once financing is lined up.
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The tower would be the final piece in the high-profile redevelopment of the Seaholm District, a former industrial area that housed the Seaholm Power Plant and the Thomas C. Green Water Treatment Plant. The area is rapidly transforming with new apartments, condos, shops, restaurants, offices, a hotel, a public library, a Trader Joe’s grocery and more.
City officials say the $2 billion in public and private investment pouring into the area is expected to generate millions of dollars in property and sales tax revenue in coming decades, including more than $62 million for affordable housing.