Austin’s CBD has been one of the hottest development markets in the country over the past few years, and all signs point to 2021 being no different. In this article, we take a look at the Downtown Austin buildings expected to deliver in 2021.
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Downtown Austin Buildings Delivering in 2021
1. Indeed Tower
Address: 200 W. 6th St.
Size: 729,130 SF
At 729,130 square feet, Indeed Tower is the largest downtown office development expected to deliver in 2021. As the name suggests, Indeed is the project’s anchor tenant and will move into roughly 300,000 square feet when the project is delivered in 2Q 2021. Indeed plans to consolidate its current downtown presence into Indeed Tower once completed.
The Teachers Retirement System (TRS) had pre-leased 100,000 square feet in the project, but public backlash forced them to put all the space on the sublease market. At this article’s publish date, Indeed Tower is roughly 70% preleased including TRS’s space.
Heritage Title has preleased 20,459 square feet on the 20th floor of the building. Heritage Title will be vacating its Frost Tower location once Indeed Tower is complete.
The project broke ground in May 2018, and upon completion, the 36-story building will be the largest office tower in the CBD.
Trammell Crow is the project’s developer, with CBRE acting as the leasing team. Page is the architect.
2. 300 Colorado
Address: 300 Colorado St.
Size: 358,000 SF
300 Colorado is a 32-story office tower anticipated to deliver in 1Q 2021 and is currently 87% preleased to Parsley Energy. Parsley Energy signed a prelease of roughly 300,000 square feet in 2018, but the company has now put all of that space on the sublease market.
The project will feature a 2.5:1000 parking ratio, a 1,200-square-foot amenity deck, a 3,400-square-foot conference room, and a 5,100-square-foot fitness center.
Cousins Properties is the project’s developer, and JLL is acting as the leasing team.
3. 405 Colorado
Address: 405 Colorado St.
Size: 200,443 SF
405 Colorado, a 25-story office tower, is expected to deliver in 1Q 2021.
The project is currently 5% preleased by AllianceBernstein. The global investment management firm announced its 13,000-square-foot prelease on the 18th floor late last year.
DLA Piper originally pre-leased roughly 66,000 square feet in the project; but, due to construction delays, it has now backed out of the pre-lease.
The project features a sky lounge on the 14th floor, offering a fitness facility, conference centers, lounge areas, and more. The building will also have a parking ratio of 2.6:1000.
The building broke ground in March 2019.
Brandywine Realty Trust is the developer and leasing team for the project, Duda Paine Architects is the architect.
4. 1836 San Jac
Address: 1836 San Jacinto Blvd.
Size: 206,555 SF
1836 San Jac is expected to add roughly 200,000 square feet of office space to downtown’s innovation district when it delivers in 1Q 2021. The project will also feature 18,692 square feet of ground-floor retail, 43,200-square-foot floorplates, and a 2.05:1000 parking ratio. The building will also give tenants access to a dedicated rooftop balcony.
The Employee Retirement System of Texas (ERS) is significantly expanding its presence at its existing site at the northeast corner of the Texas Capitol Complex. ERS plans to keep its existing main building, but will demolish a smaller annex structure to make room for this new development.”
– Andrew Reue, What You Need to Know About Austin’s New Courthouse and the Surrounding Developments
ERS plans to occupy roughly 25,000 square feet in the building, with the rest available for pre-lease.
CBRE is handling the leasing for the project. STG Design is the project’s architect.
5. 701 Rio
Address: 701 Rio Grande St.
Size: 120,964 SF
701 Rio is anticipated to deliver in 3Q 2021. Located at the corner of Seventh Street and Rio Grande Street, the project is just a block north of bustling West Sixth Street and adjacent to Star Bar, Ranch 616, and Little Woodrow’s.
The five-story building will feature 27,000-square-foot floor plates. Tenants will enjoy a rooftop terrace, an on-site fitness center, bike storage, and more.
Construction began in January 2020. As of this publish date, the project is 0% pre-leased.
JLL is the leasing team for the project.
6. The Quincy
Address: 93 Red River St.
Type: Office / multifamily
Size: 77,874 SF of office, 347 apartment units
The Quincy, which is located in the Rainey Street District, is expected to deliver in 3Q 2021.
The 29-story building will feature three floors of office space above ground-floor retail and eight levels of parking. Floors 12 and above will be residential with 347 units available.
The office levels will feature 25,958-square-foot floor plates and a 3:1000 parking ratio.
At this article’s publish date, the project is currently 0% pre-leased. Endeavor is acting as the leasing and development team, and Ziegler Cooper is the architect.
7. 5th & Brazos
Address: 501 Brazos St.
Type: Multifamily / hotel
Size: 719,752 SF, 411 hotel rooms, 330 apartment units
5th & Brazos is a mixed-use project featuring multifamily and hotel options. The project will have 32 stories and is expected to deliver in early 2021.
The multifamily portion will include studio apartments, one-bedroom apartments, and two-bedroom apartments. Residents will have access to hotel amenities as well as outdoor and indoor lounges, fire pits, bike storage, an indoor dog run, and pet grooming areas.
5th & Brazos will also be home to two different hotel flags from Two Roads Hospitality. First is Thompson Hotels, a luxury brand, and tommie hotel, a new “lifestyle micro-hotel” brand. Hotel amenities will include dining and drinking options, lounges, and an outdoor pool deck.
Magellan Development Group is the project’s developer, and bKL Architecture is the architect.
8. Alexan Capitol Tower
Address: 700 E. 11th St.
Size: 400,000 SF, 274 apartment units
Located just east of the capitol in Downtown Austin’s medical district, Alexan Capitol Tower will bring 400,000 square feet and 274 multifamily units to the market when it delivers in July 2021.
According to Austin Towers, residents will have access to amenities like a resident lounge, community workspace, fitness center, dog park area, pool, clubhouse, and a golf simulator. Residents will also have the ability to rent guest suites for visitors
Trammell Crow is the project’s developer and GDA Architects is the architect.
9. Block 36
Address: 710 East 3rd St.
Size: 144,000 SF, 259 apartment units
Block 36 is a five-story, 144,000-square-foot multifamily development expected to reach substantial completion in August 2021. The project is a “micro-unit” development, with the average unit size being only 467 square feet. Approximately 80% of the units will be studios and one bedrooms ranging from 375 to 495 square feet, while 20% will be two bedrooms ranging from 575 to 800 square feet.
Pricing for the units has not been released yet, but will likely be finalized next year. Residents will have access to significant amenity space and a 3,000-square-foot, street-level restaurant.
Transwestern is the project’s developer.
10. Hyatt Centric Austin
Address: 721 Congress Ave.
Size: 246 rooms
Hyatt Centric Austin is a 246-room, 31-story hotel project slated for delivery in winter 2021. Construction on the project began in November 2019, and you can view a live stream of the project to see its progress.
Hotel guests will have access to a bar, outdoor lounge, fitness center, 3,000 square feet of meeting space, and 4,450 square feet of ground-floor restaurant and entertainment space.
McWhinney is the project’s developer, Katerra is the general contractor and Nelson Partners is the architect.
As you can see, 2021 will be a busy year for commercial projects delivering in Downtown Austin. Although much of the space delivering will likely either be vacant or already on the sublease market, it will still be exciting to see Austin’s ever-changing skyline.