Published on February 12th, 2016 | by Kate Harrington
Owners of Statesman Site Take First Steps Toward Redevelopment
The new owners of the Austin American-Statesman site have big plans for the 18.9 acres alongside Lady Bird Lake.
The family that purchased the land in December sent out a request for interest and qualifications on Feb. 8. The RFIQ, sent out to developers by law firm Armbrust & Brown, asks for ideas about how to turn the site into a mixed-use development.
Cox Enterprises, the company that owns the Statesman, revealed in late 2015 that it would sell the land to a group of Cox family members. Cox Enterprises is still the newspaper’s owner. Through a lease with the Cox family, the newspaper is still operating at the site.
There’s no word yet on what the redevelopment timeline will be; Armbrust & Brown told Statesman reporters that the Cox family “will evaluate information provided by qualified developers and determine potential next steps and timing with respect to any future development activities.”
Alex Taylor, executive vice president of Cox Enterprises, said “There is no predetermined plan, but in general we want to see the area develop in a way that is commensurate with Austin — a thriving economy in a beautiful environment. We’ll find the right partner who understands the difference between that and just making money. But we’re in no rush.”
The Statesman land is one of the largest privately owned parcels in Central Austin.
The Statesman property currently has planned unit development (PUD) zoning, which limits uses without a conditional use property and also limits how much additional space could be built. But with a zoning change, the site and the area around it could transform dramatically.