A $500 million development may bring new housing, retail and underground parking to the southwest quadrant of downtown Austin.
Today, the City Council was briefed on the sale of a plot of land facing Lady Bird Lake. The land is the former location of the Green Water Treatment Plant, bordered by Cesar Chavez and Third Street, San Antonio Street and Shoal Creek.
Austin’s first treatment plant, the City Council voted to demolish Green in 2006 to promote taxable development more compatible with downtown.
Under the terms city staff presented today, the city would sell the plot to TC Austin Development, a subsidiary of development firm Trammell Crow, for $42.4 million.