One of the newest industrial parks in northeast Austin is receiving the finishing touches from Ryan Companies US Inc. and is set to become a massive development for the area. The Quarter Crossing project is situated in Manor, Texas, with one tenant, Whole Foods, already secured.

The industrial park is nestled between northeastern Austin’s most notable economic developments – Tesla’s gigafactory in east Travis County and Samsung Electronics Co. Ltd.’s chipmaking plan in Taylor – making it a perfect destination for industrial and residential developments. The park also has easy access to U.S. Route 290 and State Highway 130 in both directions. 

David Forester, the director of real estate development at Ryan Companies US Inc., identified Manor as a prime candidate location for this industrial development for each of the reasons above. 

With one building, 9917 Hill Lane, already complete at the business park and over 300,000 square feet on nearly 16 acres expected to come, Quarter Crossing will become an economic giant for Central Texas. The first tenant for the business park, Whole Foods Market Inc., was selected for the 132,000-square-foot Hill Lane building and opened this past April. 

Another building at Quarter Crossing is currently in development and is expected to be completed soon. This development will be an enticing prospect for various companies and industries, spanning 192,000 square feet with 36-foot clear heights and a massive flex parking area with 145 trailer parking stalls. 

Interest and demand in the Central Texas area have reached new heights, making this new Quarter Crossing industrial park a significant step forward. 

What does this mean for Austin? Stay tuned by following my blog for more information on the latest developments, commercial projects, and local real estate in Central Texas. Feel free to email me at  tmcneil@kw.com to discuss commercial developments like Quarter Crossing.

On June 8th, the Mississippi-based real estate firm EastGroup Properties Inc. was unanimously approved by the city of Round Rock for incentives up to $125,000 to aid the firm’s upcoming industrial redevelopment. The redevelopment itself is estimated to cost $9 million and will focus on a 9-acre site at 350 Texas Avenue. Fondly nicknamed “the Texas Ave” project, this Round Rock development is expected to span over 125,000 square feet.

The continued approval of this project is contingent on the demolition of the current building by March 31, 2024, with an expense of at least $125,000, with a completed replacement by the end of 2026 at a minimum of 100,000 square feet. 

The demolition alone will cost anywhere between $120,000 and $135,000, while the capital investment in this project will be approximately $9 million. Currently, two small structures reside on the property, with a combined square footage of 15,000 square feet. EastGroup Properties Inc. aims to demolish these structures and redevelop with two class A light industrial buildings, which will span a total of 128,700 square feet, one with 70,000 square feet and the other with roughly 58,000 square feet. Recent conceptual plans showcase both buildings clearing over 28 stories in height.

David Hicks, the vice president of EastGroup Properties Inc., has confirmed that no tenants are currently secured for this project but that construction is expected to begin later this year.

“Part of our program of work on the economic development team is to work with developers who identify properties that we can potentially use for future economic development projects and more so even working with them to find redevelopment opportunities, so when we’re recruiting companies we have the appropriate real estate,” said Jordan Robinson, CEO and president of the Round Rock Chamber, during the June 8th meeting.

What does this mean for Austin? Stay tuned by following my blog for more information on the latest Austin developments, commercial projects, and local real estate. Feel free to email me at  tmcneil@kw.com to chat more about this “Texas Ave” project and if you’re curious why Austin is my favorite place in the world!

Known for being a bustling city of development, Austin is now also experiencing an industrial boom – with industrial eyes now set on a small town bordering the capital. The city of Lockhart looks to be the perfect next destination for an expansion of industrial developments, especially as news of Titan Development Ltd. setting their sights on this area for the continuation of their Central Texas projects comes to light.

So, what are the benefits of Lockhart for industrial developers? First, the city is close to the Austin-Bergstrom International Airport, and State Highway 130 is a huge draw for companies expecting a large amount of travel. Second, Lockhart is nestled between Austin and San Antonio, with the potential to dip into both job markets. With a massive supply of available land, more affordable pricing, and public incentives, industrial giants are increasingly attracted to Lockhart. Corporations like Samsung Electronics Co. Ltd. and Tesla Inc., and several others are already making their way to the city.

While this industrial boom in Lockhart is quickly picking up speed, it comes as no surprise to city officials and residents that have been preparing for these developments. With a pro-business attitude, the Lockhart community has been investing in industrial-friendly infrastructure, such as roads and wastewater treatment systems. This support from Lockhart officials is attracting developers from all across the state. Titan is already developing a 45-acre Lockhart Industrial Park 130, expected to span 650,000 square feet. 

The city’s interim Economic Development Director, Mike Kamerlander, commented on the promise of Lockhart’s future industrial empire. “I think our city is very pro-business and wants to grow the industrial sector here in Lockhart, which is also a welcomed revelation to many companies looking around the Austin area,” he said.

Learn more about the industrial development boom in Austin and what’s happening around our favorite capital by following my blog or contacting me at tmcneil@kw.com with any questions!

Austin is springing forward into the season with news of two mixed-use development projects coming to the area. Keep your eyes peeled and check out some details of these exciting projects below.

CSW Far West Development

While filings are still in the preliminary stages, Far West Boulevard in Austin is standing to gain hundreds of new apartments and plenty of upcoming retail and restaurant space with Central Southwest Texas Development LLC’s latest project. This development is set to be developed at 3525 Far West Blvd in Austin, featuring several five-story buildings and a six-story garage across 3.9 acres of land.

Currently, that lot is occupied by a Frost Bank drive-thru and parking lot. The land was purchased by CSW in December 2021 and was appraised at nearly $3.4 million. According to a recent filing, the current development project is projected to cost CSW $50 million.

With no available site plan, the layout of this development remains unclear. However, CSW has announced plans to qualify for the city’s vertical mixed-use density bonus program. This fantastic program allows Austin developers to build higher than typical in exchange for creating affordable housing. To meet these goals, CSW will reserve 10% of residential space for residents making 80% of the median family income level!

AJ Capital Tower & Hotel

Just south of the University of Texas campus, plans for an 18-story project are beginning to take shape. The Nashville-based developers, AJ Capital Partners, have announced plans to transform a half-block radius surrounding Guadalupe and 18th streets. Their recent site plan filed with the city shows the demolishment of the site’s current occupant, an office building, with plans to develop an astonishing 18-story tower.

While the specifics of this project remain secretive within AJ Capital’s walls, we can look at the developer’s exciting portfolio to further speculate what is to come. The current operatives of the boutique hotel chain Graduate Hotels, AJ Capital has a current expansion plan in Dallas that is already under construction. This project would be the company’s first development in Austin and is one for the books!

Learn more about the beautiful city of Austin by checking out my blog or contacting me at tmcneil@kw.com with any questions!

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. 

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“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.