June Luncheon: Capitalizing on the Capitol Complex - Understanding the Capitol Complex Master Plan and Future Project Opportunities

Aundre Dukes, Portfolio Manager and Public Liaison with the Texas Facilities Commission Planning & Asset Management Division, will present the Capitol Area Development Strategy at the SMPS Austin luncheon on June 14th. The Facilities Master Plan delineating the agency’s priorities and initiatives for its 28.4 million square foot inventory was adopted January 19th 2011. The plan focuses on two initiatives: 1) Developing a Combined Heat and Power Plant for the Capitol Complex, and 2) a Comprehensive Asset Management and Development Strategy to maximize utilization of assets and value for the State.

The State owns property within the Capitol Complex totaling 122 acres, the equivalent of 70 city blocks. The complex contains the Capitol Building and grounds, State office buildings, garages and surface lots. TFC identified approximately 21 acres of under-developed State-owned assets within the complex, mostly comprised of parking lots and garages, outside of the Capitol grounds. Preliminary studies indicate the development potential of these underdeveloped assets could yield an additional 7.1 million square feet of new facilities, double the amount of space currently used to office State employees, thereby relieving the State of annual expenses and reducing the State’s excessive reliance on commercial leases.

The Commission has identified approximately 1.3 million square feet of Austin area administrative state leases for consolidation into new State facilities. These facilities can be constructed on underdeveloped holdings. The targeted leases serve 5,500 employees at a cost of $16.7 million per year. The remaining 5.8 million square feet of under-developed properties could generate significant revenues from non-tax sources if developed for market driven mixed uses.

Mr. Dukes will discuss more about how and what the State hopes to accomplish with this Capitol Area Development Strategy.

THE DISCOUNTED PRICE ENDS AFTER WEDNESDAY, June 8th!!

WHEN: Tuesday, June 14, 2011
11:30 AM - 1:00 PM

WHERE: University of Texas Club - President's Room
2108 E. Robert Dedman Drive
Austin, TX 78712

ATTIRE: Business Attire

EVENT REGISTRATION FEE:
Member: $35.00 for a limited time ($45.00 original price)
Non-Member: $45.00 for a limited time ($55.00 original price)

RSVP Monday, June 13, 2011