Seaholm will become a reality because of a partnership between Seaholm Power, LLC and the City of Austin. This is a unique partnership and the first time the City has entered into an agreement where a key goal is preserving an iconic structure.
The power plant structure is iconic, but there are enormous costs in re-developing any former plant. It's because of the City's investment that this project is financially possible and Seaholm can once again be a place full of energy.
By combining local expertise and world-class experience on the development team, along with an investment by the City, it's possible to re-imagine the plaza and front yard as vibrant public spaces that all of Austin can enjoy.
Revenues generated from the new development will help fund the City's investment in the open spaces and parking.
Once the City's investment is paid back, additional revenue from the project will be dedicated to affordable housing.
Based on preliminary studies, the development team is targeting Austin Energy Green building Two Star certification as a baseline for the power plant and Austin Energy Three Star for the new construction, with the intent of also achieving of silver or higher LEED certification.
Working with the University of Texas Center for Sustainable Development, the plan calls for the power plant infrastructure to be used to establish a rainwater collection system for irrigation. The rainwater collection system will enable us to irrigate the landscaping without using City water.
Green space will be at the heart of this project. The re-development plan calls for 1.5 acres of open space that will be managed, maintained, and programmed.
The Seaholm Power team is actively working with Austin Energy to maximize a photovoltaic array on the roof of the Power Plant.
The re-development will be in excess of $130 million and includes a mix of office space, condos, retail shops and restaurants, meeting space and green space.
The development will be the anchor of a new Seaholm District, forming the southwest quadrant of downtown. It will revitalize the area and serve as an economic catalyst for re-developing City-owned land at the Green Water Treatment plant site, as well as the two Austin Energy tracts that are adjacent to the property.
Seaholm will be a truly multi-modal development that will serve as a transportation hub for downtown.
The plan calls for being pedestrian and cyclist friendly, as well as accommodating a major rail hub that will serve as a crosstown collector for many commuters.
The Lance Armstrong Bikeway crosses the front yard of Seaholm, providing a bike-friendly rest stop as we connect the entire city for cyclists.