A crucial city council vote could determine the fate of Stream Realty Partners’ redevelopment plans in downtown Austin.
The Dallas-based firm aims to transform a portion of the historic Sixth Street, also known as “Dirty Sixth,” into an office building and a hotel. On July 20, the Austin City Council is expected to vote on whether to allow buildings that rise up to 140 feet, the Austin Business Journal reported.
Sixth Street is packed with bars and was once known as one of the anchors of Austin’s live music scene. Stream bought dozens of properties on East Sixth Street during the pandemic, with hopes to “revitalize” the area to make it safer.
If Stream’s zoning request is approved, the firm’s future developments would dwarf surrounding properties, as building heights have typically been capped at 45 feet on the strip. Stream has proposed razing several buildings to make way for new ones, ranging between 70 and 122 feet.
The firm has attested that increased density and height are imperative for its vision to come to life. Company executives previously described Sixth Street redevelopment plans as a $500 million to $750 million investment, the outlet said. Stream owned more than 40 properties on Sixth Street between Brazos Street and Interstate 35 as of late 2022, many of which are vacant and boarded up.
New buildings would also need to be set back 15 feet, and existing facades would need to be preserved. On June 11, the Planning Commission voted in favor of the zoning changes.
Opponents of Stream’s proposal believe it would lead to more high-rise developments, completely changing the identity of the historic strip.
—Quinn Donoghue
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