What We Know About River Park

Details

Address

4700 East Riverside Drive, Austin, TX 78741

Units

400

Developer

Presidium Group

Property Website

riverpark-atx.com

About

This density and mixture of uses is carefully arranged within River Park to create a dynamic neighborhood that will remain active throughout the day and into the evening, on both weekdays and weekends. The land use plan, in conjunction with the proposed street network, landscape, and public realm design, promotes a vibrant hub for southeast Austin and sets a precedent for new large-scale development in the region.

Bringing contemporary uses demanded by the market at large, while still being mindful of the culture and personality that makes Austin Austin and respectful to the existing community of East Riverside. River Park understands the delicate nature of community relations. It also operates to serve the community in a way that can gracefully bridge the gap between old and new Austin. The project will consider the environmental impact and the larger policy goals of the city, striving to deliver a quality development for Austin.

At its heart, River Park is a Transit Oriented Development (TOD), and its increased densities are directly related to the designation of Pleasant Valley and Riverside as primary transit corridors by The City of Austin and Capital Metro. Beyond orienting itself around future transit, the master plan plays a crucial role in increasing pedestrian access to the portion of Country Club Creek between Elmont and Riverside. Furthermore, City plans call for a future multi-modal transit station that includes light rail at this key intersection in Austin, quickly connecting residents of River Park to both downtown and the airport via mass transit.

Estimated Cost

$4,000,000,000

Timeline

December 2020: This 109-acre project at 4700 East Riverside Drive, spearheaded by Presidium and Partners Group, would be a master planned community with residences, hotels, offices, open space, parks, restaurants and shops. (Austin Business Journal)

December 2020: Initially known as 4700 East Riverside, the project has been rebranded with the new name River Park. It is expected to be built in phases over the next 10 to 20 years.

The development, which has drawn opposition from some residents and community members, is increasing from 97 acres to 109 acres, with plans now calling for more than 10 million square feet of new development. Its developers said the cost at full buildout will likely be more than $4 billion, based on 2020 valuations.  (Austin American-Statesman)

June 2021: Partners Group and Presidium have unveiled the first phase of River Park, a controversial mixed-use development planned for East Riverside Drive.

The total 109-acre site is bounded by the Roy G. Guerrero Colorado River Metro Park, East Riverside Drive, Pleasant Valley Road and Country Club Creek. According to a press release from Partners Group and Presidium, the first phase encompasses approximately 15 acres just east of Wickersham Lane, running along the frontage of Riverside. (Kvue)