Search
 

Power Plant Could Find New Life in Lofts

NEW BRAUNFELS, TX-Award-winning developer Larry Peel is eyeing the challenge of converting an idle power plant into a multifamily project. The plan is to put 110 to 120 lofts into the structure and build 178 garden units on 23 acres surrounding the plant.

By Tim Green | Updated on February 27, 2002

NEW BRAUNFELS, TX-Larry Peel’s latest project isn’t starting out as one of the usual high-end apartment projects he builds from the ground up. This one starts as a defunct power plant that towers over New Braunfels from the banks of the Comal River.

“Walking into it looks like Grand Central Station. It’s awesome,” Peel, an Austin-based developer says. “It’s got heavy steel structure on the inside and brick on the outside.”

The plan is to put 110 to120 loft apartments in the former power plant and 178 garden apartments on the 23 acres surrounding the plant, Peel tells GlobeSt.com. The buildings will be set back from some electrical equipment still on the property, with berms and heavy landscaping buffering the units from the equipment. It also will set back 100 fee to 150 feet from its neighbor, the city’s Landa Park.

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.