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Real Estate Forward

Seaholm Development District

Austin, Texas

For Austin, the redeveloped power plant is seen as an anchor project for the neighborhood in a former industrial section of the city.

ESTIMATED VALUE:
$200 million

LEAD ATTORNEY:

OTHER TEAM MEMBERS:

STATUS:
Completed in 2016

Winstead represented Southwest Strategies Group, a commercial real estate company, in the redevelopment of the Seaholm Development District in downtown Austin. For this project, a power plant was redeveloped into a mixed-use facility that includes residential, retail, and office space. For Austin, the redeveloped power plant is seen as an anchor project for the neighborhood in a former industrial section of the city.

The development includes:

  • 275 residential units
  • Restaurants
  • Retails stores
  • Trader Joe’s grocery store

Built in 1951, the power plant was decommissioned in 1996, leaving an abandoned facility located right in the city’s southwest downtown region. This project aimed to change that. This mixed-use facility injects new life into the neighborhood. Its nearly 300 residences provide options from 600 to 2,500 sq. ft., while offering a slew of amenities—from a sky deck to a fitness center to an open-air dog park. Throughout this project, Winstead worked closely with Southwest Strategies Group to work through the various complexities associated with this development. Ultimately, the project was structured to utilize a master condominium declaration that had underlying subordinate condominium declarations for a residential tower.