From today’s Austin Business Journal: The first steps to redeveloping the the Austin American-Statesman’s prime downtown waterfront property are underway.
Today, the owners of the property announced they were soliciting mixed-use redevelopment proposals from qualified developers for the 18.9-acre South Congress Avenue site on the southern shore of Lady Bird Lake, the Statesman reports. The request for qualifications was sent Monday by Austin law firm Armbrust & Brown LLP.
The land represents one of the highest-profile redevelopment possibilities in town. The Travis Central Appraisal District values the property at $39.8 million.
For the time being, the Cox Enterprises Inc.-owned newspaper will remain at the location. The paper previously shifted its printing operations offsite. Then in December, Cox Enterprises sold the property to members of the Cox family.
In an email to newspaper employees, the paper reported Statesman publisher Susie Gray said the latest move was an effort by the Cox family to seriously consider potential future uses for the property.
“As you’ll recall, members of the Cox family purchased the land that houses our facilities,” the email said. “You may have heard that a Request for Interest and Qualifications was recently distributed. The RFIQ does not mean there will be any immediate changes to the property. It does, however, signal the owners’ long-term investment in the property, and their desire to seek the best strategy for determining the future of the site.” Additional information>>>