Housing Could Rise Next to Tokyo Electron HQ in Austin – The Real Deal
search
Mayor Watson unveiled plan for transit-oriented project with 1,100 units
SHARE THIS ARTICLE
FONT SIZE
More details have emerged regarding the city of Austin’s plan for Tokyo Electron’s former campus, should it follow through with the acquisition of the 107-acre property.
As the city considers paying $87 million for the Southeast Austin site, at 2400 Grove Boulevard, it’s clear that it would repurpose the two-building, 189,800-square-foot campus for a second Combined Technology and Emergency Communications Center. The city’s plan for the adjoining 60-acre tract, however, was murky until now.
Austin Mayor Kirk Watson revealed the city’s vision for a dense, transit-oriented development with 1,100 housing units, drawing parallels to the successful Mueller neighborhood model, the Austin Business Journal reported.
Emphasizing the integration of public transit and lessons learned about affordability from previous projects, the proposal aims to address “challenges in a much-in-demand planned community,” Watson wrote in his newsletter.
Without giving specifics on the types of housing and price ranges, city spokesperson Shelley Parks stated that the 60 acres of undeveloped land offers plenty of “promising opportunities” for the East Riverside and Montopolis communities.
The project would connect to the city’s Project Connect light rail plan, as it’s near a future rail line along Riverside Drive. However, the fate of Austin’s light rail system remains uncertain due to local opposition and recent challenges from Texas Attorney General Ken Paxton.
Beyond transit considerations, the campus could be used to address workforce housing needs, particularly for city employees and personnel working in sectors such as education and public safety, the outlet reported.
The Austin City Council is set to discuss the potential purchase on March 21. Tokyo Electron, meanwhile, has expressed interest in leasing back the two buildings until 2025 as it looks to expand its Austin-area footprint.
—Quinn Donoghue
All rights reserved © 2024 The Real Deal is a registered Trademark of Korangy Publishing Inc.
