Despite the pandemic, and uncertainty about the future of office work, new towers and other developments continue to spring up across Austin.
This year, some significant downtown projects, as well as major new projects from Tesla and Austin FC that are farther afield, will officially open. Here are eight to look out for:
1. Office tower at 300 Colorado St.
This 32-story office building at 300 Colorado St. is scheduled to be completed this quarter. Developed by Cousins Properties, the tower will be home to Austin-based oil and gas company Parsley Energy, which has leased all of its office space. It will also be home to retail tenant Del Frisco's Grille.
2. Office tower at 405 Colorado St.
(Brandywine Realty Trust)
This 25-story office building at 405 Colorado St. is also scheduled to be completed this quarter. Developed by Brandywine Realty Trust, its tenants will include the investment management and research firm AllianceBernstein. According to the developer's website, the tower boasts an above-market parking ratio, "making it one of the easiest places to park" downtown.
3. Hotel tower at 5th & Brazos
This 32-story mixed use tower at 501 Brazos St. will open this quarter. Developed by the Magellan Development Group, the building will include tenants Thompson Hotels, a luxury boutique hotel chain that is owned by Hyatt and has outposts in Nashville and Chicago, and tommie hotels, a micro-hotel company that caters to a younger market.
4. Indeed Tower on 6th Street
This 36-story office building at 200 W. Sixth St. will be completed this March, according to developer Trammell Crow. Tenants include the worldwide employment website Indeed, the Teacher Retirement System of Texas and the Austin-based title insurance company Heritage Title. The site of this forthcoming tower was formerly a post office built in 1914.
5. Austin FC Stadium at McKalla Place(Laura Figi/Austonia)
The $260 million Austin FC stadium is scheduled to open at 10414 McKalla Place in North Austin this spring, ahead of the Major League Soccer club's inaugural season. It will hold 20,500 spectators and include a 400-person capacity beer hall and multi-level team store. Austin FC's parent company and ownership group, Two Oak Ventures, privately financed the stadium.
6. Waterloo Park in Central Austin
Waterloo Greenway, an urban park system that runs 1.5 miles along Waller Creek from 15th Street to Lady Bird Lake, will soon debut its first phase project: Waterloo Park. The 11-acre park is bordered by East 15th, Red River, East 12th and Trinity streets and will open this spring.
7. Giga Texas in Southeast Travis County
🏗 Giga Texas https://t.co/0D6QV1Fcsa— Omead Afshar (@Omead Afshar)1608435261.0
The forthcoming Tesla Gigafactory in Southeast Travis County is expected to be up and running by the end of this year, with the first substantial completion, or construction milestone, scheduled for May, according to the Austin Chamber of Commerce. The $1.1 billion, 2,100-acre, 7.9-million-square-foot factory will provide at least 5,000 jobs, not including the thousands of construction workers who are currently building it. Omead Afshar, project director within Tesla's office of the CEO, tweeted a photo of the factory's progress on Dec. 19.
8. The Quincy in the Rainey Street District
(Endeavor Real Estate Group)
This 29-story office and multi-family tower at 93 Red River St. will be completed in the third quarter of this year, according to developer Endeavor Real Estate Group. It will join recent high-rise additions in the Rainey Street Historical District, including the residential towers 70 Rainey and 44 East as well as a 51-story mixed-use building planned for 90-92 Rainey St.
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Longtime Austinite Carlos Garza has recently toggled between the local rental and housing markets. He sold his Southwest Austin home last October, after living there for around a decade. Within two days of listing the property, it had received multiple offers; he ended up accepting an offer slightly above asking price within the week. "We were very pleased with the process," he told Austonia.
Since selling, Garza has rented an apartment while he decides what he'd like in his next home. Although it was a bit of sticker shock compared to what he paid to rent 10 years ago, he knows that rent is "relatively low" compared to recent years.
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