Search
 

Austin, Stratus Properties Settlement Going Before Public

AUSTIN-A proposed settlement on a 4,000-acre mixed-use development in southwest Travis County goes before Austin's constituency. The plan calls for the city to pay $6.3 million to Stratus for legal fees incurred in a municipal utility district dispute.

By Connie Gore | Updated on November 20, 2000

AUSTIN-Austin City Council will hold public hearings Nov. 30 and Dec. 7 on a development settlement with Stratus Properties for a proposed 4,000-acre, multi-use project in southwest Travis County.

Meanwhile, Stratus has filed site applications for four office structures in the proposed Lantana Corporate Center. The four-story Rialto Park is being plotted as two 200,000-sf, class A structures with a complementary five-story parking garage. Lantana 5 and 6 will total about 80,000 sf in two-story designs.

The Nov. 30 public hearing will be held at Town Lake Center, 721 Barton Springs Rd. and Dec. 7′s will be at the Hancock Building, situated at the Lower Colorado River Authority, 3700 Lake Austin Blvd. The meetings begin at 6 p.m. and mark the latest round of hearings for the developer, who is ticketed to receive $6.3 million in reimbursable legal fees from the city under the settlement proposal for a municipal utility district dispute. In turn, the city gets an option on 46 acres adjacent to the nature conservancy at a price to be agreed upon pending final signoffs of the settlement pact.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.