CWS Denied, Boardwalk Walks On
As you have probably heard by now, the Planning Commission voted to deny CWS Capital Partners' variance request, which would have allowed them to build condo towers within 150 feet of Lady Bird Lake in exchange for demolishing their existing structures and donating the land along the shoreline to the city (approximately the pink bit in the top left of the image above). As a result, the existing structures will almost certainly be re-built in their current location (as close as 20 feet from the lake) and new condo towers will be built 200 feet from the lake.
On the other hand, the city appears to be moving forward with the boardwalk plan, which would complete the loop, allowing hikers and bikers to stay along the water for the entire eastern half of the trail. Whether this gets done before Holly Power Plant is turned into parkland remains to be seen. If you have never gone around the eastern half of the trail, go check it out (even if you have to walk along Riverside for a bit to get there). Holly Power Plant has some of the best graffiti in Austin, and it will not be around much longer. The Pleasant Valley Bridge is also very cool - mighty Lady Bird Lake on one side and the skinny Colorado River on the other.
Image from The Town Lake Trail Riverside Boardwalk Investment Study.
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