UT Med District--Biggest Transformation Facing Downtown Austin
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You can clearly see from any of Austin’s view corridors the myriad cranes in downtown Austin, transforming the skyline. But, the biggest transformation facing downtown Austin is not the redevelopment of Seaholm, nor Green Water.
I’m thinking of the Dell Medical School and UT’s Medical District Plan. This plan developed within two years, seemingly from thin air, and is awesome in the “shock and awe” sense of the word.
We’ve seen “Master Plans” come, go, sit on the shelves of City Hall, but the UT Medical District is more or less guaranteed to happen in the next couple of years, at least the first phase. The UT system, the No. 3 richest system in the nation, will carry the brunt of development for Phase 1 of the master plan. I’d wager they aren’t dependent on lenders, credit markets, etc. when they (literally) have $1 billion of gold in the bank. That gold, by the way, represents just five percent of UT’s nearly $20 billion portfolio.
Officially, UT plans to open the medical school in the fall of 2016, while the planned opening of the hospital is January 2017.
More at http://downtownaustinblog.org/2013/07/24/this-is-biggest-transformation-facing-downtown-austin/ .
[font color=green]Note the demise of the Frank Erwin Center based upon the plan and the new alignment for Red River Street.[/font]
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