601 East 5th Street (File 26-2161)
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Authorize negotiation and execution of a lease agreement with Slice Padel Co., LLC, on behalf of Austin Convention Center department, for an initial term of three years, plus two one-year extension options, for approximately 42,654 square feet of space on the top level of the City-owned parking garage located at 601 East 5th Street, Austin, Texas 78701, including approximately 118 parking spaces. Funding: This item is projected to result in additional revenue of $3,000 in the Fiscal Year 2025-2026 Operating Budget and $33,000 in the Fiscal Year 2026-2027 Operating Budget of the Austin Convention Center department.
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Get executed garage lease and check extension and termination terms
Why now: The August 27, 2026 item authorizes a three-year initial term plus two one-year extensions for space at 601 East 5th Street, with $3,000 projected in FY 2025-2026 versus $33,000 in FY 2026-2027, but the record does not state the commencement date or extension mechanics.
What to do: Obtain the executed lease and the authorizing Council action to confirm whether the two one-year extension options are exercised administratively or require a return to Council, and whether the City holds a termination-for-convenience right if the Convention Center needs the garage back. The revenue split of only $3,000 in the first fiscal year suggests a partial-year commencement — confirm the commencement date and rent escalation schedule rather than assuming an even three-year run.
Act before: After the next material record update
Study rooftop garage reuse path used at 601 East 5th
Why now: The City is leasing approximately 42,654 square feet on the top level of the City-owned parking garage at 601 East 5th Street to Slice Padel Co., LLC for a three-year initial term under the August 27, 2026 Council item.
What to do: Pull the lease exhibits and any building permit filings for the top level of the City-owned garage to see what structural loading, occupancy classification, egress, and lighting conditions the City accepted for an active recreational use on a parking deck. That template is the cheapest available roadmap if you are evaluating rooftop conversions on your own downtown parking structures.
Act before: After the next material record update
Question low rent for padel courts atop Fifth Street garage
Why now: The August 27, 2026 Council item (File 26-2161) projects just $3,000 in FY 2025-2026 and $33,000 in FY 2026-2027 from about 42,654 square feet and 118 parking spaces at 601 East 5th Street.
What to do: Request the appraisal or market-rate analysis and any solicitation documents behind the Slice Padel lease — roughly 42,654 square feet plus about 118 parking spaces is projected to generate only $33,000 for a full fiscal year, under a dollar per square foot annually. Ask the Convention Center department whether the space was competitively offered or came in as an unsolicited proposal, and what the parking spaces alone were earning before.
Act before: After the requested records are produced
Expect 118 fewer public parking spaces near Fifth Street
Why now: The August 27, 2026 Council item leases approximately 42,654 square feet on the garage's top level including approximately 118 parking spaces to Slice Padel Co., LLC for an initial three-year term.
What to do: If you park in the City garage at 601 East 5th Street for downtown events, confirm with the Convention Center department how many public spaces remain once roughly 118 spaces on the top level are committed to the padel lease. Also ask what evening operating hours and rooftop lighting are permitted, since the top deck sits above surrounding blocks.
Act before: After the next material record update
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Authorize negotiation and execution of a lease agreement with Slice Padel Co., LLC, on behalf of Austin Convention Center department, for an initial term of three years, plus two one-year extension options, for approximately 42,654 square feet of space on the top level of the City-owned parking garage located at 601 East 5th Street, Austin, Texas 78701, including approximately 118 parking spaces. Funding: This item is projected to result in additional revenue of $3,000 in the Fiscal Year 2025-2026 Operating Budget and $33,000 in the Fiscal Year 2026-2027 Operating Budget of the Austin Convention Center department.