Press Releases / Austonian Updates
Luxury Meets High-Tech at The Austonian
Downtown Austin is thriving, and when The Austonian opens in 2010, and citizens move in to its 178-plus condos, Austin will be closer to meeting the mayor's goal of having 25,000 residents living downtown.
Spanish developer Grupo Villar Mir and its Austin-based subsidiary, Benchmark Land Development, were ready to lay claim to downtown Austin, and a zoning change provided the opportunity. As part of Former Mayor Will Wynn's initiative, density requirements were modified, making the 56-story condo tower possible. "They basically changed the floor-area ratio [FAR], which is a ratio of the density amount of square footage you can place on a particular tract of land," explains Kurt T. Hull, senior principal, Ziegler Cooper Architects. "This [project] wouldn't have happened in Austin if they hadn't changed those requirements."
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