It seems like everyday a new crane pops up in downtown Austin.

Whether on or off the clock, one of the most frequent questions we hear from clients, friends and family members is “what’s that new development going up downtown?”

In this article, we give you the details on six buildings that are finishing construction next year and five that are scheduled to break ground in 2019.

Read Article: 8 East Austin Developments Delivering in 2019

 

Six Buildings Scheduled to Deliver by 2019

1. 70 Rainey

Address: 70 Rainey Street
Type: Multifamily
Size: 164 units

70 Rainey | Downtown Austin Tower

Photo courtesy of Austin Business Journal.

70 Rainey, the 34-story residential tower under construction in the bustling Rainey Street district, is on target to deliver and have residents move in during the first half of 2019.

The project features 164 condos and 10,300 SF of ground-floor retail. Over half of the condo units have been sold (as of November 2018).

The tower boasts a “park in the sky,” with a 21,000-sf amenity deck on the 11th floor with luxurious landscaping by the internationally renowned landscape architecture team Design Workshop. This is a bit pioneering in an area of town that has typically appealed to a younger, typically less affluent, resident.  

Sackman Enterprises is the developer behind the project. Page is the building architect.

2. The Independent

Address: 301 West Avenue
Type: Multifamily
Size: 370 units

Independent Tower Austin, Texas

Photo courtesy of Curbed Austin.

The Independent, fondly known around Austin as “the Jenga building,” is set to finish construction by the first quarter of 2019.

The 58-story luxury condo tower will house 370 units. Condos are selling for $650 to $750/sf, and currently 58% of units are under contract.

When announced, the building was set to be the tallest residential tower west of the Mississippi River and the tallest tower in Austin. 6th + Guadalupe, a mixed-use development set to break ground in 2019, may steal both of those titles from The Independent when it delivers in 2021/22.  The Independent is one of the largest residential towers in Austin and will anchor an area of downtown that is seeing the most new construction of residential and support amenities such as restaurants and shopping.

The project developers are Aspen Heights and CIM Group. Rhode: Partners designed the building.

3. 5th & West

Address: 501 West Avenue
Type: Multifamily
Size: 154 Units

5th & West new tower in downtown Austin, Texas

Photo courtesy of Riverside Resources.

5th & West is also on track to deliver in December 2018.

The project offers 154 luxury condos and will stand 37-stories tall. The number of units sold is still undisclosed, and prices range between $700 and $950 per square foot.

Developed by Riverside Resources, the tower is located where the West 6th Street Entertainment District meets the Market District, near the existing Austin City Lofts and The Monarch.

4. Third + Shoal

Address: 601 West 3rd Street
Type: Office
Size: 345,000 SF

Third + Shoal | Bank of America Large Lease in Austin, Texas 2018

The Third + Shoal office development, located on the former Austin Music Hall site, is set to deliver by Q1 2019.

The 29-story tower will house 16 stories of office and 13 levels of parking.

The project is 100% leased, and the primary tenants include Facebook, who took approximately 230,000 SF, Bank of America and Dickinson Wright.

Katherine Shappley, head of Facebook’s Austin office, told the Austin American Statesman that Facebook wanted to “expand our presence in the Austin area as part of our continued commitment to this thriving technology community. We’re delighted to be here and excited for what the future holds”.  

The development is owned by Cielo Property Group and TIER REIT. Gensler handled the design of the building.

5. Hotel ZaZa / Gables

Address: 401 Guadalupe Street
Type: Mixed Use (Multifamily & Hotel)
Size: 221 Apartment Units & 159 Hotel Rooms

Hotel Zaza Gables in Downtown Austin

Photo courtesy of TOWERS.

The Hotel ZaZa/Gables development has been a long time coming in the Austin market.

The 24-story tower will be split between 221 units of multifamily and 150 hotel rooms. Hotel ZaZa will occupy up to the 12th floor, and the Gables Residences will occupy the 13th floor and above.

Originally set to deliver in 2016, a number of issues led to a two plus year delay. The project is now on schedule to delivery in the third quarter of 2019, and the hotel plans to open to guests in the summer 2019.

The project is a collaboration between Z-Resorts and Gables Residential.

6. Austin Proper Hotel

Address: 600 W 2nd Street
Type: Mixed Use (Multifamily & Hotel)
Size: 244 Hotel Rooms & 99 Residences

Austin Proper | New Construction Downtown Austin

Photo courtesy of Austin Proper.

The Austin Proper Hotel is a luxury hotel and residential combo that is expected to deliver in early 2019.

The 32-story project will not be short on amenities, with a fitness center, spa, two rooftop pools (one for residents, one for guests) and more. McGuire Moorman Hospitality, the restaurateur behind Clark’s Oyster Bar, Jeffrey’s Restaurant & Bar, Lamberts Downtown Barbecue and more,  is developing three restaurants and bars for the project.

Its location is also ideal, giving residents access to both the hike and bike trail and downtown Austin’s many local favorites.

The Kor Group is leading development of the project, and Goldman Sachs is acting as the capital partner.

 

Five Buildings Scheduled to Break Ground in 2019

7. 6th X Guadalupe

Address: 400 West 6th Street
Type: Mixed Use (Office & Residential)
Size: 587,780 SF Office, 42,000 SF Ground-Floor Retail, 349 Multifamily Units

6th X Guadalupe in Austin, Texas

Photo courtesy of Austin Business Journal.

Although The Independent currently holds the title of tallest tower in Austin, 6th X Guadalupe is already planning to steal the record.

The mixed-use development, which is estimated to break ground in 2019, will stand 850 feet high upon completion.

The project will be 66 stories tall, including 32 floors of office with 34 levels of residential on top. Developers say the office will be ready to occupy about two years after construction begins, while the residential will take four years to complete.

The building has been linked to some large users taking space in the CBD and Domain.

Lynd Development Partners is developing the project in partnership with Lincoln Property Company.

8. 93 Red River

Address: 93 Red River Street
Type: Mixed Use
Size: 347 Units of Multifamily, TBA Office and Retail

93 Red River development in downtown Austin, Rainey Street

Photo courtesy of Endeavor.

It was recently announced that 93 Red River is on track to break ground early in 2019.

The 30-story mixed-use development will house 347 apartments, as well as office and ground-floor retail.

Located in the Rainey Street District on Red River Street, this property is located just across Davis Street from the Hotel Van Zandt.

Endeavor Real Estate Group is developing the project, and Ziegler Cooper Architects are designing the building.

9. 405 Colorado

Address: 405 Colorado Street
Type: Office
Size: 197,056 SF

405 Colorado breaking ground in Austin, Texas

Photo courtesy of Brandywine.

Developers of 405 Colorado are estimating a late 2018, early 2019 groundbreaking for the office development.

The proposed building is still 100% available for lease, with asking rental rates at $45.00/SF NNN. They have been trolling for an anchor tenant for some time and there is still no definitive word whether they will start without any preleasing.

The building will have 12 stories of parking, contained in the boxy podium, with 12 levels of office on top. The 14th floor, called the “Sky Lounge” will be dedicated to building amenities.

Brandywine is the owner/developer for the project, and Duda | Paine Architects are designing the building. Duda | Paine is the architecture team behind Austin’s iconic Frost tower.

10. Block 185

Address: 601 West Second Street
Type: Office
Size: 700,000 SF

Block 185 in Austin Texas to break ground 2019

Block 185 is scheduled to kick off construction in the first quarter of 2019.

The building, the only undeveloped site remaining from the Green Water redevelopment, will take on a sail-like shape, in response to the setbacks required by the proximity to Lady Bird Lake and Shoal Creek.

The project, originally contemplated as a mixed-use site with residential and office, is currently envisioned as 40 stories of office, sitting atop five levels of underground parking and seven levels of above ground parking. Rumors have circulated that this in response to Google wanting more space proximate to their downtown location, although Google’s name has been linked on and off to a number of buildings in the CBD.

Trammell Crow Company is the developer for the project, and STG design is the architect.

11. 48 East

Address: 48 East Avenue
Type: Multifamily
Size: 215 Condos

48 East to break ground near Rainey Street in Austin, Texas

Photo courtesy of Austin Business Journal.

Developers of 48 East, the latest Rainey Street luxury condo project, announced earlier this year their plans to break ground on the development before the end of 2018.

The development will house 215 condos, which are selling for on average for $675/sf per unit.

Pearlstone Partners is developing the project, and STG Design is the architect.

 

To learn more about what’s under construction in downtown Austin, download a free copy of our presentation Downtown Austin Emerging Projects.

Or to learn more about the Austin market, visit the Austin Resources section of Learning Center, where we’re sharing latest trends, market insights and more.

Free Resource: Austin Downtown Emerging Projects
 

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Bart Matheney | Commercial Real Estate Leasing Broker in Austin, TX | AQUILA Commercial

Bart Matheney

Bart Matheney is one of AQUILA’s founding principals and has been a major player in the Austin commercial real estate industry for decades.

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