The 2019 Commercial Real Estate Awards recognize the most dynamic projects and transactions in the Austin metro area. Two WGI projects took home the honors this year.
Music Lane developer proposes first downtown Austin hotel
By Erin Edgemon – Staff Writer, Austin Business Journal
One real estate development and investment company is already banking on Austin’s hospitality industry bouncing back quickly after the COVID-19 pandemic.
New York-based Turnbridge Equities is proposing a high-rise hotel at the northeastern corner of Seventh and Colorado streets, Principal Roger Plourde said. The site is just west of the 600 Congress office building — also known as One American Center — and next door to a Texas State University System building.
“We think long-term this is a great location for a hotel,” Plourde said. “Obviously, short-term there are challenges to the hotel industry [due to the pandemic], but we think long-term the industry will prevail and that this location will prevail as well as one of the best hotel locations in the city.”
WGI, formerly Big Red Dog Engineering, filed a site plan application for the hotel on March 30 with the city of Austin Development Services Department. It has yet to be reviewed by city staff.
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In the City of Austin, site plan exemptions give small projects that do not have an existing site plan on file an expedited pathway to permit the project.
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