Austin Avenue renovation plans for old Strand Theater: from bank to office space - Waco, TX
Posted by: 
WalksfarTX
N 31° 33.377 W 097° 07.937
14R E 677273 N 3492767
Bank of America building is located at 514 Austin Ave.
Waymark Code: WMZJN8
Location: Texas, United States
Date Posted: 11/20/2018
Views: 2
Waco Tribune Herald"The board of Tax Increment Financing Zone No. 1 board approved $545,125 Thursday for homebuilder Steve Sorrells’ $3.6 million plan to turn the old Strand Theater building on Austin Avenue, most recently occupied by Bank of America, into Class A office space.
Sorrells, a custom builder involved in residential projects including Badger Ranch, Cloister at Cameron Park, Cottages at Cameron Heights and 714 Lofts, plans to start next year on work to turn 510, 514 and 518 Austin Ave. into a 49,000-square-foot office, co-working and retail venue with a cafeteria, rooftop deck, Dichotomy-supplied coffee service, interior glass walls and 24-7 access.
He gave TIF board members a tour before Thursday’s board meeting and identified his partner in the venture as Michael Biggerstaff, a San Angelo-based homebuilder. Sorrells said the property he proposes to modify was built between 1884 and 1927 and once housed a Citizens-branded banking complex that changed hands and names many times.
During the tour, Sorrells told TIF board members he hopes to preserve as many historical features as possible, including 5,000 safe deposit boxes and their keys that will be incorporated into decorations throughout. Crews will transform the holding area for the boxes into conference rooms.
He hopes to complete the transformation next year. It will include adding third and fourth floors in some areas and incorporating design, decorative and lighting features he observed while visiting Toronto Pearson International Airport and the City Winery development in Chicago’s West Loop.
The Waco City Council has final approval on use of TIF money.