Published on January 11th, 2017 | by Kate Harrington
Endeavor to Head Redevelopment of Statesman Property
The redevelopment team for one of Central Austin’s most desirable sites has been announced. Endeavor Real Estate Group will lead the redevelopment planning for the land that currently houses the Austin American-Statesman, an 18.9-acre site at 305 South Congress Avenue.
That site is part of the South Central Waterfront Initiative, and has been valued at $62 million. The city is hoping, through the initiative, to see the area around and including the site transformed to include more dense, mixed-use development. The rendering below is from the South Central Waterfront Vision Plan in 2016:
“Over the course of 2016 the Cox family has been working through a comprehensive process to evaluate potential development partners with which to consider all scenarios for the future of the Statesman property, including redevelopment,” the Cox family said Friday in a statement, per the Statesman. “The owners sought a partner who would align with the Cox family values and shares a vision of the Statesman property which balances reasonable investment-backed expectations and a commitment to a thriving Austin community. The Cox family received a significant number of sophisticated responses, ultimately selecting Endeavor to move forward to the next phase of the project.”
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.
At the time that Cox sent out a request for interest and qualifications, almost a year ago, 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.”
BuildingATX will continue to monitor this project as redevelopment plans move forward.
Previous coverage on BuildingATX.com:
- What Does The Future Hold for The Statesman Land? (5/8/15)
- Statesman is Selling its Lakefront Land (12/15/15)
- Owners of Statesman Site Take First Steps Toward Redevelopment (2/12/16)