Developers in Austin have applied for a zoning change at the 800 block of Congress Avenue in Austin to pursue a boutique hotel with 120,000 square feet of office space according to an article from The Statesmen. The project would occupy the land currently taken by the Bosch-Hogg Building which was originally built in 1897 as a three story building with three additional floors added to the structure in 1984. Austin developer David Kahn, managing partner of Colina West Limited, plans to build a 28 story mixed use property in its place but will need the zoning change to allow for a larger building than is currently permitted for that site.
"I saw an opportunity to bring some excitement and energy to that part of downtown," said Kahn. He also explained that while financing for his project is not in place, he expects to fund it with local investors and bank financing.
"The downtown Austin hotel market is one of the strongest in the state, which should be able to support more hotel rooms," said Randy McCaslin, vice president in the Houston office of PKF, a hotel industry research and consulting firm. "However, there are a lot of hotel projects in various stages of planning, so a lot will depend on who gets financing first."
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