We met with Mr. John C. Rosato of Southwest Strategies Group at the 130,000 square foot Seaholm Power Plant. The property was built 1949-1956 and was decommissioned in 1989. Not only is the property taking $180 million to redevelop it has also taken 5 years to remove numerous hazards, concrete, piping, and antiquated mechanical devices and fixtures The property has undergone $13million in remediation since 1997. It is the first facility in the country to receive a “ready for reuse: designation under the federal “Toxic Substance Control Act”. The goal is to add value to downtown Austin lifestyle with shopping, entertainment, a convenient grocer, density, and access to transportation.
A project of this magnitude takes experience, patience, and money. To get the experience the development team is made up of Southwest Strategies Group, Centro Partners, and La Corsha Hospitality Group. This is a public private venture that the City of Austin supports. The development team seeks to receive LEED Silver designation. This property will be used for a variety of concerts and special events. There are plans for a 160 room hotel and 80 condo’s and penthouses. Although Seaholm Power Plant will retain the majority of its unique power plant features there are plans to remove 3 boilers and the turbine platforms.
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