Since the 1990s the City of Austin has sought EPS’s consulting services to assist in the redevelopment of various public properties in and around the city’s central core including the former Mueller Airport site; Block 21, a city-owned parcel across from city hall; the Seaholm Power Plant property, an historic and architecturally significant property in downtown; and the former Green Water Treatment Plant and Energy Control Center sites.
EPS’s roles have included market and financial feasibility analysis, and development of financing strategies and implementation measures. EPS has also assisted the City in conducting developer solicitations and negotiations with the selected developers, and continues to support the implementation of the projects by monitoring the projects’ overall financial performance, bonding capacity, and consistency with development agreements; reviewing the affordable housing implementation; evaluating the economic implications of specific tenants and partnership agreements; and exploring the potential to use tax increment and other sources to fund public improvements. EPS has worked with local stakeholders and elected officials to ensure that community objectives are being met in each of these projects.
The plan for the Robert Mueller Airport received an award from the Congress for the New Urbanism, and development of the project’s housing, retail, and commercial space (including the Dell Children’s Medical Center) is well underway. Block 21 is now developed as a W Hotel with the Austin City Limits studio on the ground floor. The Seaholm and Green Water Treatment Plant projects have broken ground and construction of initial phases is expected to be complete in 2016.