The New Face of Seaholm
On the North shore of Lady Bird Lake sits one of Austin’s most iconic structures, the Seaholm Power Plant. In the early 1950’s when this Art Deco structure was originally constructed the city of Austin was a much different place. Throughout the decades this quiet capital city of 132,000 people has transformed into a bustling metropolis of nearly two million, yet this stoic structure has remained relatively untouched by Austin’s progress. This 7.8 acre site will undergo a redevelopment in coming years that will transform the landmark into a mixed-use community focused space where guests can live, work, play, shop and dine.
The Seaholm redevelopment broke ground in mid April 2013 and will include a 30-story, 309 unit residential complex along with 8,000 SF ground level retail space. In addition to the apartment building there will be a 66,000 SF low-rise building that will house office and retail space. Trader Joe’s, the popular grocery store is the only publicly disclosed tenant for the site. The first round of apartments and Trader Joe’s are slated for an early 2015 delivery.
The Seaholm Power Plant development team has an extensive list of contributors. The three principle sponsors are Southwest Strategies Group, Inc., Centro Partners, LLC, and La Corsha Hospitality Group.
The redevelopment of Seaholm is part of a larger community transformation taking place in the neighborhood. This will include Austin’s New Central Library, Seaholm Intake Reuse and Green Water Treatment Plant.
Further, the project is not only preserving and restoring these historically significant structures, but it is also promoting community interaction and stimulating Austin's economy. When finished, the center is expected to introduce 200 jobs to the Austin market as well as produce approximately $2 million dollars in tax revenue for the city.
The shell of what was once the city’s leading provider for energy will once again be providing energy to Austin, only now by helping contribute to the already vibrant lifestyle offerings of downtown.
Article by: Meg Alley
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