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P: 805-969-5115
F: 805-969-5119
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Museum
Park; Austin, TX | Detail 3 |
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The
Museum Park project
in Austin Texas was designed by Scher Investment Group’s team for a downtown property that
previously housed three car dealerships and a vacant lot.
The plan is for 725,000 square feet of central business district
office space, 25,000 square feet of ground-floor retail space,
and below-grade executive parking, in addition to two parking
structures, allowing enough space for 2,200 cars.
In order to begin the
project, Scher Investment Group acquired the land in a competitive
bid from a prominent Austin family. Our Museum Park design was
intended to create a major office environment on the western
edge of the central business district that would attract major
employers.
To make the project
an even greater benefit to the community, Scher initiated negotiations
with the city to renovate a recreational park across the street
from the project, as well as to work with the proposed Austin
Museum of Art on an adjacent corner.
SIG successfully acquired
the land and secured the necessary permits. The land and entitlements
were sold to Intel Corporation 18 months after the land acquisition
at a price more than double the acquisition cost. |
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