Closed north Austin Radisson set for redevelopment



AUSTIN (Austin Business Journal) — A vacant north Austin hotel is set for a rebirth, and its sprawling parking lots may be turned into mid-rise apartments.

ASAP Austin LLC secured permission from Austin City Council Feb. 1 to rezone the empty Radisson Hotel Austin – University a few miles north of downtown at Interstate 35 and U.S. Highway 290.

The plan is to renovate the 293-room hotel into a new brand for Austin and add as many as 1,000 apartments and 40,000 square feet of commercial space to the 8-acre site.

ASAP Holdings is based in Pasadena, California, and steered by Chairman and CEO Frank Yuan, according to its website. His online bio states he has been involved in the buying of at least 39 hotels and partnerships with wealthy Chinese investors and state-owned companies since 2010.

Read the full story in the Austin Business Journal.

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