High-Rise Development Site For Ground Lease

...1710 Colorado St is an undeveloped, surface parking lot that has been owned by the Austin Scottish Rite Theater for over 100 years. The Theater has hosted numerous community events and children's plays throughout this time, and they desire to stay in their existing building, adjacent to the parking lot, indefinitely. Their interest is in ground-leasing the parking lot to endow their organization with a long-term revenue stream to further their ability to live out their mission to serve the greater community through high quality performing arts, educational programs, and events. Ideally located in Downtown Austin, TX, situated between the State Capitol Building and the University of Texas, 1710 Colorado St presents a prime development site directly adjacent to the Scottish Rite Theater and the State of Texas $600MM Capitol Complex Project that is currently underway. The property's location, size and development entitlements combined with current commercial real estate market conditions, make this property well-situated for a high-rise residential or commercial development. The property is located within the Downtown Density Bonus Program which allows for up to 15:1 Floor Area Ratio, allowing for up to approximately ~300,000 square feet of buildable area.1710 Colorado St is an undeveloped, surface parking lot that has been owned by the Austin Scottish Rite Theater for over 100 years. The Theater has hosted numerous community events and children's plays throughout this time, and they desire to stay in their existing building, adjacent to the parking lot, indefinitely. Their interest is in ground-leasing the parking lot to endow their organization with a long-term revenue stream to further their ability to live out their mission to serve the greater community through high quality performing arts, educational programs, and events. Ideally located in Downtown Austin, TX, situated between the State Capitol Building and the University of Texas, 1710 Colorado St presents a prime development site directly adjacent to the Scottish Rite Theater and the State of Texas $600MM Capitol Complex Project that is currently underway. The property's location, size and development entitlements combined with current commercial real estate market conditions, make this property well-situated for a high-rise residential or commercial development. The property is located within the Downtown Density Bonus Program which allows for up to 15:1 Floor Area Ratio, allowing for up to approximately ~300,000 square feet of buildable area.