Austin, TX (PRWEB) October 12, 2012
Another hotel is in the works for downtown Austin, says real estate brokerage Regent Property Group, as paperwork recently was filed with the City of Austin seeking rezoning of a lot at the northeast corner of East Fifth Street and San Jacinto Boulevard, where the foundation of a burned down building now stands vacant.
“There aren’t enough hotel rooms to meet the current demand, especially in the downtown area,” said Austin REALTOR Brian Talley. “Between meeting the need for services and providing jobs through construction and service, these hotels stand to greatly benefit the Austin economy. Even more, these additional rooms will boost our ability to hold larger and more esteemed conferences.”
The Austin economy already is being fueled by events that garner national attention, such as the upcoming Formula 1 races, Austin City Limits music festival, and SXSW, each of which draw crowds from around the world. Austin’s appeal to visitors often prompts relocations of business and individuals, fueling the real estate market.
The rezoning documents were submitted by members of the Harry Whittington family as a joint venture with REI Real Estate Services LLC and White Lodging Services Corp., a company with other hotel projects for downtown Austin already in the works. REI and White Lodging have long histories of development in Austin, although they are headquartered elsewhere. They are the developers behind the Hyatt Place, which is under construction at East Third Street and San Jacinto Boulevard. White Lodging also is building the 1,000-room JW Marriott hotel at East Second Street and Congress Avenue.
In addition to Hyatt Plaza and JW Marriott, other hotels on the drawing board include the proposed Fairmont Austin, which would be a 1,000-room hotel at East Cesar Chavez and Red River streets, and a 17-story hotel in the Green Water Treatment Plant redevelopment at West Cesar Chavez and San Antonio streets. These hotels will serve both out-of-towners and local residents accustomed to Austin luxury homes who prefer to “stay-cation” close to Austin hotspots in luxury accommodations.
About Regent Property Group
Regent Property Group LLC is a top Austin real estate company owned and managed by real estate broker and luxury home REALTOR® Brian Talley. Talley and his seasoned, professional team of Austin REALTORS® provide one-on-one real estate services to their customer base, ensuring they receive the highest level of care and satisfaction. With such an important process, it is crucial to utilize the best technology and to work with the top Austin real estate agents, and you can trust the agents with Regent Property Group. Media: Please contact Brian Talley at info (at) regentpg (dot) com.