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MegadealsSubsidy Tracker Individual Entry
Company: Endeavor Real Estate Group
Parent Company:
Subsidy Source: local
Location: Texas
City: Austin
Address: 305 South Congress
Project Description: Luxury waterfront redevelopment
Year: 2021
Subsidy Value: $354,614,211
Program Name: Tax Increment Reinvestment Zone
Awarding Agency: Austin City Council
Type of Subsidy:
MEGADEAL
Source of Data: Subsidy details from: Mike Christen, December 8, 2022, "What is the South Central Waterfront TIRZ and how will it pay for expanding Austin's downtown," Austin Business Journal; from LexisNexis. Project updates from: Ken Martin, January 8, 2024, "Are tax subsidies for luxury development legal?" The Austin Bulldog,
(click here). The city of Austin approved the TIRZ on Dec.1, 2022; see the city council minutes of meetings at
(click here)
Notes: This luxury 118-acre mixed-use multi-phase project will include office and retail space, residential units, a hotel, and parking. On Dec. 1, 2022, the city of Austin approved the project for a tax increment reinvestment zone, or TIRZ, a TIF-like program. Under the South Central Waterfront TIRZ, 46% of property taxes will be diverted to pay for public infrastructure at the project site, up to $354 million. Twenty percent of units must be affordable. The project is currently being litigated after a coalition of concerned citizens sued the city over an alleged improper use of TIF under the Texas State Code. Overlaps with main data: none.
Source Notes: If an online information source is not working, check the Tracker
inventory page for an updated link.