In a recent meeting on January 23, the Austin Design Commission unanimously agreed that a master proposal by Aspen Heights Partners LP meets the city’s urban design guidelines. This master plan outlines the development of two new towers at the location that previously housed the HealthSouth rehabilitation hospital. 

Recent News

“This is an extremely unique property…A single mom who works at the hospital can be here and walk to work. She can also have a playscape and a childcare center on the ground floor. It will also be somewhere where someone can drive in and park and go to Waterloo [Park] and the Capitol on their family vacation,” says Margarette Shaw, the city’s economic redevelopment program manager.

While City Council still needs to vote on the approval of this project in late spring or summer of 2023, the development of these two towers is highly anticipated. With affordable residential housing and a high-density business landscape in mind, the developers of these towers are looking to reinvent the district. 

The Aspen Heights Towers

This transformation of the old HealthSouth hospital will feature two residential towers at 1215 Red River Street and 606 East 12th Street. Nestled among Waterloo Park, the Dell Seton Medical Center, and Dell Medical School, these towers are already poised to be hubs of activity in the district. In total, the two towers will accommodate 921 apartments, with 25% allocated for affordable housing. 

In the north tower’s almost 50,000 square feet and 37 stories will be 573 market-rate apartments that range from one-bedroom studios to expansive three-bedroom units. The second story of the tower will have an exciting music and arts venue, an 18,000-square-foot food hall, as well as public parking.

The south tower is much smaller, covering nearly 30,000 square feet. Its 37 stories will feature 348 residential units, a child-care center, retail space on the ground floor, and nine parking levels.

What’s To Expect

The Aspen Heights Towers are exciting downtown Austin developments that will bring a bustle of activity and reinvigorate the city, drawing new residents, businesses, and more. If you’re interested in learning more about these developments and others in the Austin area, feel free to contact me here or reach out to me at tmcneil@kw.com.

Some exciting developments are on the horizon for big names in Austin. Between new construction at Apple’s campus in Northwest Austin, several expansions for the Tesla Gigafactory, and a mixed-use development rising up east of the Austin-Bergstrom International Airport, Austin commercial real estate is skyrocketing in 2023.

Apple NW Austin Campus Construction

Apple will be beginning construction on several huge developments at its Northwest Austin campus. In early January 2023, Apple filed plans with the Texas Department of Licensing and Regulation to construct a four-story and five-story building, each costing roughly $120 million.

Tesla Gigafactory Expansions

Big things are coming to the Tesla gigafactory in east Austin this year. In 2023 alone, the company has filed plans for future construction at the gigafactory, estimated to be more than $775 million in cost. The last filing (the fifth in 2023 so far) appeared on January 10th for a project called Die Shop. This development aims to construct a new building on an immense 107,468 sq. ft. lot, costing roughly $59 million. With the addition of this new Die Shop project, Tesla’s total footprint of projects will reach 1.5 million square feet.

Colorado Bend Industrial Mixed-Use Development

A massive mixed-use development is on the horizon for Southeast Austin. According to a recent filing, the first project for this development will be Colorado Bend Industrial, just off state highways 71 and 130. The one-story Colorado Bend Industrial building will span 453,658 square feet and cost $44 million. Construction is set to begin on May 15th, 2023, and is expected to be finalized one year later, in 2024. 

This is just the tip of the iceberg when it comes to commercial construction in Austin. 2023 is poised to be an eventful year for our favorite city. Stay tuned for future Austin developments by following my blog or contacting me directly at tmcneil@kw.com.

2022 was a momentous year of change in the Texas markets of real estate and business. With a great migration of corporate America making its way to the Lone Star State, innovative developments throughout Austin, and new business opportunities around every corner, we can only expect even greater things to come.

While the great influx of company relocations was, in part, due to the pandemic and the rising popularity of work-from-home and hybrid workplaces. In 2022, things have stabilized and returned to a more consistent pattern. According to a recent study (YTexas) noted in Austin Business Journal’s analysis of the business boom, “at least 23 businesses moved to the state in 2022. That was down 63% from a record 62 that made the move in 2021.”

However, this “return to normalcy” trend doesn’t mean that Texas is losing its standing as one of the biggest business states. Texas has consistently been named the number one state for business, with 2022 being no different, as it received that ranking for the 18th year in a row! The CEO of YTexas, Ed Curtis, comments that “2021 was the biggest year for relocation in the history of Texas…It was all the buildup from Covid and then 2021 is when they made the move. It is still happening.”

2023 is lining up to be a record-setting year in Austin’s continued development and the overall growth of Texas. Businesses continue to flock to the state. Austin’s growing diversity in business and leisure, as well as its remarkable city-wide projects, mark it as a noteworthy place to start a business, relocate a company, and position corporate headquarters. 

Keep an eye out for more Tesla gigafactory news, updates on commercial projects, and Texas developments by following my blog or reaching out here!

The Eden, a component of the $2 billion mixed-use project Pearson Ranch, has been on the brink of development since the developers revealed their plans in January 2022. And now construction has finally begun on The Eden and is set to be complete by the end of 2024.

Located in southern Williamson County, Pearson Ranch is situated just a short distance from Lakeline Station, which runs from Leander to the Central Business District, making it a prime destination for new residents.

The Eden Mixed-Use Project

While the entire Pearson Ranch development could take up to ten years, The Eden is estimated to take roughly a year to finish. With a total of 306 apartments across the entire 156-acre Pearson Ranch development, The Eden will offer one-, two-, and three-bedroom options that range in size from 672 square feet to just over 1,500 square feet. With 10-foot ceilings, quartz countertops, and smart technology throughout the residences, The Eden complex is looking to be an excellent upscale addition to Austin’s residential community.

The apartments will also feature walk-in closets, full-size washers and dryers, and gas appliances. In the community, residents will have access to a fitness center, a rooftop lounge deck with a kitchen, a golf simulator room, a dog spa, a coworking lounge, as well as a resort-style pool with personal cabanas.

Inspire Development Real Estate LLC, the Austin-based company in charge of this project, has noted the potential in The Eden’s location. “This part of the Austin area has cemented its reputation as the place to be for high tech employers,” says the Managing Principal, Brett Ames. “The Eden brings high-quality housing to an area where it’s needed and helps more people live close to where they work.”

The excitement about The Eden community is just beginning! And with a $2-billion development expected for the entire Pearson Ranch project, more updates are sure to come. Stay tuned on both of these ventures as well as more Austin enterprises by following my blog or reaching out to me directly at tmcneil@kw.com.

In theme with Austin’s constant goal to transform its skyline, the 1980s Brodie Oaks shopping center has a transformation of its own in the works. Since the conception of this development in 2019, developers Barshop & Oles Co. and the Houston-based Lionstone Investments have partnered to make this project a reality. 

The Brodie Oaks Redevelopment Project

“Brodie will be a destination landmark for South Austin reflecting the unique character of South Austin through its creative design and the incorporation of public art and performance venues. A focus on biophilic design, energy and water conservation, and the use of regional architectural styles and materials will all help contribute to the South Austin character,” says the Brodie Oaks Redevelopment site. 

The current state of the shopping center spans 365,000 square feet and is in dire need of a makeover. This transformation plans to create an interconnected community across 38 acres. The land will be divided into 14 acres of open space, 1.26 million square feet of office space, 140,000 square feet for restaurants and retail stores, a 200-room hotel, and 1,700 residential units. 

This redevelopment will completely transform the South Austin area, bringing an exciting urban branch to the community.

Brodie Oaks Recent News

Since the project’s introduction to City Council in late 2020, it has been slowly making its way up the ladder. On November 15th, the Austin Planning Commission recommended the rezoning request by the project. Despite concerns by city staffers on the height of the project, the recommendation passed. City Commissioner Claire Hemphill noted the project’s significance in her comments: “I think there has been a tremendous amount of engagement, work, negotiations — a lot of thought. I feel this is ready to move forward.”

Contingent on the approval from Austin Energy, the Planning Commission moved forward with a list of recommendations for the project. 

What Are The Implications Of This?

While the neighboring towns and South Austin community are raising concerns about this change, the Brodie Oaks redevelopment team seems confident in the positive impact this project will have on the area. With eco-friendly and community-based goals rooted deep within the project, there can be no denying that the Brodie Oaks shopping center redevelopment will be a monumental transformation for the entire city.

Stay tuned for more updates on the Brodie Oaks project by following my blog. And as always, reach out to me at tmcneil@kw.com with any questions on what exciting new developments are making their way to the Austin area. 

On November 3, Austin City Council made the second of three necessary votes to rezone a site on the southern bank of Lady Bird Lake into a planned unit development. This project, headed by Endeavor Real Estate Group LLC, would redevelop this site, previously home to the Austin-American Statesman headquarters, into a monumental mixed-use high-rise complex.

305 South Congress Redevelopment

Running adjacent to the Ann W. Richards Congress Avenue Bridge, 305 South Congress is poised for residential, office, retail, and hotel space, as well as a new public park. If completed, this 19-acre project will transform the lakefront site, expanding the Central Business District to the southern bank of Lady Bird Lake. This entire development is expected to cost roughly $117.5 million. 

Current plans for the site include 1,378 residential units, 150,000 square feet of retail space, 1.5 million square feet of offices, and a luxury hotel with 275 rooms. The retail portion of this development will consist of both retail and restaurant space and will span six towers, with its tallest reaching roughly 47 stories high. The 305 South Congress project also plans to include a new Blue Line light rail station as a part of the city’s long-term transportation plan, Project Connect, to provide easy access to Austin residents and a more connected community.

South Central Waterfront Initiative

The redevelopment of this waterfront site will also become an integral part of Austin’s vision to create a mixed-use environment on Lady Bird Lake’s south bank. This city-wide mission is known as the South Central Waterfront Initiative, which plans to reestablish the South Central Waterfront District as a “lively, safe, and attractive pedestrian environment” that prioritizes green spaces, a connected community, and affordable housing.

With transformative new developments like the 305 South Congress project, Austin is always on the brink of something incredible. Stay tuned on Austin developments with my blog, or contact me at tmcneil@kw.com.

Foxtrot Ventures Inc. – the modern Chicago-based convenience store chain – has unveiled expansion plans for four Austin locations by early 2023. The company first announced plans for expansion in January after months of raising $100 million in venture capital.

More About Foxtrot

While based out of Chicago, Foxtrot has over 21 locations throughout the country, including Dallas and Washington, D.C. Widely popular and praised for its creative and constantly evolving design integrating grocery shopping and cafe-style food and drink options, Foxtrot is quickly becoming a household name. The chain values customers and opts to transition throughout the day to fill its customers’ needs – transforming into a midday cafe and an evening seller of bread and wine.

Alongside its dine-in and grab-and-go meal options, an alluring aspect of Foxtrot is its combination of brick-and-mortar stores and e-commerce shopping. Shoppers have countless options as they experience and enjoy the Foxtrot chain.

The Austin Stores

While the majority of the four stores in development for Austin won’t reach the city until 2023, there is still plenty to be excited about. With plans to hire over 125 employees across the four locations, it will come as no surprise that Foxtrot also plans for one of its Austin sites to be its largest location to date. The 6,500-square-foot flagship store will be located at 1804 South First Street and is currently poised to open sometime this fall. The other locations will be spread throughout Austin, with a 2,500-square-foot store at 4800 Burnet Road, and stores at 2270 Guadalupe Street and 301 West Second Street.

While Foxtrot is a national brand, it prides itself on partnering with local vendors. Austinites can expect many of their local favorites to be stocked at the upcoming stores, such as Lick Honest Ice Creams, Chop Chop Ramen, Rosen’s Bagels, as well as alcohol from St. Elmo’s Brewing, Austin Winery, and Live Oak Brewing.

Why Austin

Austin is not a novel concept to Mike LaVitola, the CEO and founder of Foxtrot, as the chain already carries many items made by Austin companies. When asked about establishing roots in Austin, LaVitola pointed to the city’s youth and incredible local vendors as its most alluring qualities.

The widespread popularity and acclaim that is associated with Foxtrot will only bring great things to our city. Contact me here to stay up to date with news on Austin’s future developments!

September has been an eventful month – with a long-awaited change in season, the beginnings of countless thrilling fall events, and the highly-anticipated news of the soon-to-be tallest tower in Texas, Waterline Tower. While construction began on this project in mid-June of this year, its completion is not anticipated for three to four more years. 

Upon completion, the 74-story skyscraper will surpass the state’s tallest building record of 1,002 feet, currently held by the JPMorgan Chase Tower in Houston. The Waterline Tower will be co-developed by two companies operating out of Texas, Lincoln Property Co. and Kairoi Residential LLC.

The Space Inside The Waterline

While a large portion of the retail space on the first two floors remains unclaimed due to the longer timeline of this project, the following 13 floors have already been booked with 1 Hotel Austin, a luxury hotel featuring a ballroom and rooftop pool.

The next 27 stories will contain roughly 700,000 square feet of office space. Spectacularly, this office space will only take up one-third of Waterline’s entire height. To further entice the Austin workforce, the office space will be created with large corporations and smaller technology companies alike in mind. 

Lincoln Property Co.’s Seth Johnston remarked “In Austin, Texas, you don’t go only corporate or only tech…Big corporations and tech companies intermingle every day, so what we tried to design is a building that can suit both and be as flexible as possible.”

Residing above the impressive office space will be 33 floors consisting of 352 luxury apartments, with many details still to be determined.

What This Means For Austin

Downtown Austin has been booming, drawing attention from across the country. Now, with not only a new record-setting skyscraper but with additional office, retail, and residential space, the Waterline Tower will be an incredible contribution to the city. 

Katie Keenan, CEO of Blackstone Mortgage Trust, who provided the construction loan for this property, commented on the mission of the Waterline Tower: “We continue to see strong demand for new, best-in-class residential, office and hospitality assets in high growth markets like Austin and are excited to support this trophy, mixed use development that will make a meaningful contribution to the community as well as the Austin skyline.”

As we learn more about this fascinating development, feel free to reach out. I always welcome discussions about this incredible community and what the future holds for us. 

One of Austin’s most prominent tech giants is making a move. That’s right! IBM has recently filed for new office space in Austin. With two offices already situated near The Domain, often fondly referred to as Austin’s second downtown, IBM seems to be on the move to expand. First arriving in our lovely capital over fifty years ago, the renowned company quickly established its presence in Austin and has stayed ever since.

IBM’s Vice President of Enterprise Operations and Services, Joanne Wright, reported that IBM would consolidate this upcoming space with its two already-established offices into a cohesive hub of operations in the city. “We can see an opportunity to bring our systems team, our software team, our marketing teams — all teams that support IBM in the Austin city limits — together in one single team.”

Developments In The Domain

With The Domain poised as the nesting ground of even more IBM developments, residents can expect a boom in the surrounding areas. One of IBM’s landlords near The Domain, Brandywine Realty Trust, has extensive plans for the site. The Broadmoor office campus – which currently houses IBM – is one of many buildings owned by Brandywine, and they have big plans for the area. Refreshed buildings are on the horizon for Broadmoor, along with an expansion of Brandywine’s well-known Uptown ATX. 

Stonelake Capital Partners, IBM’s other landlord in the Austin area, has also been at the core of various developments in The Domain. With plans to upscale the area, Stonelake has been making continuous improvements. One of their recent developments, A Domain office tower, has gone on to attract yet another tech titan, Paypal, to the area.

Looking Forward

Because of these upcoming developments, competition for office space in The Domain has been high. Many companies look to Austin’s second downtown as a prime location to place their roots, further establishing The Domain as a hub of technology and innovation. 

These improvements and developments to the area can mean great things for the surrounding neighborhoods, attracting new businesses and creating a thriving environment. As always, don’t hesitate to reach out with any questions or curiosities about upcoming developments coming to the area.

Just northeast of the capital in Travis County, Manor is one of the most underrated neighborhoods in the Austin area. Starting with mostly farmland, the community has grown exponentially over the years. With its reasonably priced properties, Manor is quickly becoming a popular destination for young entrepreneurs and families looking to establish roots.

Manor Developments

As the community rapidly grows, it is no surprise that developers are turning their attention to the city with hopes of making their own contribution. At the end of July, the Manor City Council agreed to rezone nearly 63 acres of land just east of the city. This rezoning will clear the way for the development of a brand-new neighborhood along with some commercial space. 

355-Townhome Neighborhood 

With housing demand significantly increasing over the years as the population of Manor skyrockets, this new neighborhood will be a welcome addition to the area. Mill Creek Residential, the developer of this upcoming community, has announced plans for 335 townhomes on at least 52 acres of the land. The homes are mainly three to four bedrooms, with backyards and garages for future homeowners. They range in size from 1,100 to 1,700 square feet.

Commercial Space

Nine remaining acres will be used for commercial development, such as general retail, restaurants, financial services, and art studios. Certain establishments, including standalone nightclubs, pawn shops, gas stations, junkyards, etc., will be prohibited from developing in this space to keep with the intended use of the community.

An upcoming development like this is a positive sign for Manor and its neighboring communities. If you have questions as this development progresses, feel free to contact me here or email me at tmcneil@kw.com. I love to report on all the exciting things coming to the Austin area!