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Brokerage, Planning & Development, Investments, Consulting & Property Management

 

The Buzz - 2008/2007

original alamo drafthouse
Press Excerpts

City, developer are near Seaholm deal
by Shonda Novak
Austin American-Statesman
December 15, 2008

The taxing zone “is a way for the city to participate in the Seaholm project without having to come up with out-of-pocket funds,” said John Rosato, principal with Southwest Strategies Group, the lead developer in Seaholm Power LLC, which the city chose to redevelop the site after a competitive selection process.

“As a government-owned property, Seaholm has yet to contribute a cent to the tax base. But that will change dramatically in the coming years, and this vehicle enables future funds to pay for the city’s participation,” Rosato said.

The focal point will be the preservation of the landmark power plant, a 136,000-square-foot building with more than 110,000 square feet of useable floor space. Once renovated, the building will house an events center plus offices, shops and restaurants.

Jeff Trigger and his La Corsha Hospitality Group will oversee the construction, management and operations of a 180-room hotel planned for the project.

Trigger is the former managing director of the historic Driskill Hotel in downtown Austin, Trigger said there’s keen interest from “Austin-centric retailers” who want to be part of Seaholm.

“We’re not going to be generating a whole lot of electrical power, but we sure want to generate a lot of energy,” Trigger said. “As you can tell, I’m jazzed about this.”

 

City, developer are near Seaholm deal
Proposal calls for Austin to pay 16 percent of $117.2 million mixed-use project downtown
by Kate Miller Morton
Austin American-Statesman
March 28, 2008

The City of Austin and the local group it chose to redevelop the Seaholm Power Plant and surrounding property three years ago are close to reaching an agreement that would allow the $117.2 million project to move forward.

... Rosato hopes the group will be able to start construction by this time next year. If that happens, construction could be completed in 2011.

Turning the Old into the New and Avant Garde
Redevelopment of Seaholm site a long time in coming, but it was worth the wait
Business District - The Real Estate Issue
September, 2007

SHBusArticle.PDF

For years – almost two decades, in fact – the Seaholm power plant that reigns over the Southwest portion of Austin's downtown sector just across the street from Lady Bird Lake and the hike and bike trail sat silent and seemingly immune to the hustle and bustle and change of the world around it.

That's all about to change, and many will say that change is a good thing and a long time coming.

... The right team at the right time
According to Laura Huffman, the assistant city manager for the City of Austin, the determining factors in awarding the site to the current developer was its team's qualifications, including its experience with similar projects and the resources they could bring to the project.


ILLUMINATION

A new site-specific aerial dance from Blue Lapis Light

Where: The Seaholm Power Plant, downtown Austin
(Entrance at 3rd Street & West Ave.)
Dates: October 4-7, 11-14, 18-21, 25-28
Time: 8pm

Blue Lapis Light presents its latest site-specific aerial dance performance, Illumination, at the Seaholm Power Plant in downtown Austin. Artistic Director and recent Austin Arts Hall of Fame inductee Sally Jacques, along with choreographers/dancers Laura Cannon and Nicole Whiteside, will transform the interior of the historic building to create images of beauty and transcendence. The architecture of Seaholm, reminiscent of a cathedral, inspires the vision for Illumination. The dancers, suspended from ropes and cloth, will soar through the space in graceful athleticism. Highlighting the grand architecture, Illumination will feature lighting by Jason Amato and sound design by William Meadows.

Illumination has been made possible with great assistance from various departments of the City of Austin and Southwest Strategies Group Inc.


Missing a Longtime 6th Street Advocate

the 6ixth
Pecan Street Owners Association
September 6, 2007

Jerry Creagh, a founding member of the Pecan Street Owners Association, passed away this summer after battling cancer. Jerry was the longtime owner of "Wiley's Restaurant" on East 6th Street and was a prominent force in the development and success of the 6th Street district.

... Jerry was a well respected business man in the community and was a partner in Southwest Strategies, a commercial development firm.

Alamo Cinema Drafthouse
Karrie & Tim League owners
in a speech by Karrie March, 2007

"Danny Roth especially. We met him 11 years ago. When we approached him with no business cards or business plan and pitched him our hare-brained scheme, he treated us with total professional courtesy, just as if we really had financial backing and a tried-and-true business model. He was responsible for getting us our first lease, and he has been behind every new theater we have tackled since the first."


Austin to see Seaholm Plans
In $100 million project downtown, developers seek to blend new, old buildings
Austin American-Statesman
February 1, 2007

Developers are expected to roll out today their vision for a mixed-use project that would transform the former Seaholm Power Plant into shops, offices, a hotel and condominiums by 2009.

... "This is a historic event and an opportunity for saving a slice of Austin's history, " said John Rosato, managing partner of Seaholm Power LLC. "It's the first time that the city has entered into a public-private venture for the sole purpose of saving an iconic building in Austin."

Assistant City Manager Laura Huffman said, "We view this as a pivotal opportunity for revitalizing downtown and realizing a longtime goal for a transit hub at Seaholm."

... Centro would develop the condos. Units could cost from about $450,000 fpr abpit 1,200 square feet to more than $1 million for the largest 3,000-square-foot units, Rosato said.

Jeff Trigger, ex-managing director of the historic Driskill Hotel in downtown Austin, would oversee the construction, management and operations of the Seaholm Plaza Hotel, to be built just north of the former power plant, through La Corsha, his newly formed hotel management and consulting firm.


Alamo Drafthouse moving to Sixth St.
The historic Ritz will be a theater again, a change cheered by area business leaders
Austin American-Statesman
by Shonda Novak & Chris Garcia
March 21, 2007

The Drafthouse's longtime real estate broker, Danny Roth, Southwest Strategies Group, and the Downtown Austin Alliance, which represents downtown property owners, helped put the deal together.

A sense of history
Austin Business Journal
Book of Power 2007 issue
Dec. 29-Jan. 4, 2007

For more than two decades, Jeff Trigger has been in the business of managing, restoring and renovating hotels. And in that time, Trigger has often been approached often by hotel companies interested in tapping his hospitality expertise.

... Trigger's La Corsha, along with Southwest Strategies Group Inc. and Centro Partners LLC, make up Seaholm Power LLC, the group that's transforming the historic art-deco Seaholm Power Plant site downtown.

..."To me, it's neat to be able to preserve history in a sense of place," Trigger says. "Seaholm is a very special project, and that location is screaming for a community-oriented facility. Once completed, the hotel will be downtown Austin's only independent luxury hotel. And there will be plenty of green space. We're hoping it will become the place to be in the downtown neighborhood. And, of course, the icon of the smokestacks is just phenomenal."