AUSTIN, Texas — Editor's note: The above video is about a luxury community set to break ground near Spicewood, Texas.
The site of a Denny's near East Austin's Swede Hill neighborhood could become an 18-story condo tower, according to a report from the Austin Business Journal.
Ledgestone Development Group has filed plans with the City of Austin that indicate it could build 250 condos on the 1.2-acre property located at 1601 N. Interstate 35 Service Road.
Last week, the Austin City Council voted to zone the site commercial highway vertical mixed-used neighborhood plan, from commercial highway services-conditional overlay neighborhood plan. The vote was the first of three readings need for the rezoning, according to the ABJ.
The report states that the project, referred to in City documents as the "Denny's Condos," could also be a cocktail lounge. It would be located on the edge of the Central Business District, just east of Oakwood Cemetery and across the interstate from where the University of Texas at Austin's Frank Erwin Center currently stands.
The ABJ reports that the site was most recently valued by the Travis Central Appraisal District at $8 million.
To learn more, read the ABJ's full report.
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