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Cencor, Post Triangle Project Gets Squared Away

AUSTIN-A special state board's sign off opens the door for Cencor Urban Properties and Post Properties to start the development process with Austin. The Triangle could break ground in 2002 if all goes well.

By Tim Green | Updated on June 19, 2001

AUSTIN-They call it The Triangle, but for the past five years it’s been more of a Bermuda triangle of Austin development.

Now, with the approval of a special state board, dirt may actually be moved by next year on the 22 central Austin acres bounded by Guadalupe Street on the east, 45th Street on the south and Lamar Boulevard on the west. The Special Board of Review has approved the development plan. The state Department of Mental Health and Mental Retardation owns the property.

Cencor Urban Properties, part of the Weitzman Group, based in Dallas, is handling the commercial development and Atlanta-based Post Properties is handling the residential side. The board’s action gives the developers the sign-off that’s needed to take the project through the city of Austin’s development process, says Bob Hewgley, an asset manager for the Texas General Land Office, who has worked on the project.

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