Agenda_Item_5_2 file_Downtown_Development — original pdf

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DOWNTOWN AUSTIN DEVELOPMENT November 2019 Development Summary Austin has seen a large amount of development activity in the urban core this past year. With eight projects completed in 2019, 18 under construction, and 17 planned, downtown development doesn’t seem to be slowing any time soon. While residential and hotel projects continue to dominate across downtown, we have seen a remarkable increase in commercial office projects along Colorado Street, creating a 21st century urban office district. There are three office towers under construction along Colorado Street totaling 1.2 million square feet and representing almost half of the 3.5 million square feet of office space underway in downtown. d v l B r a m a L As a whole, downtown has 3.7 million square feet of office space under construction, representing an amazing 23% of our current multi-tenant inventory. 6X Guadalupe, Austin’s next tallest building, broke ground this past month. The project is located just two blocks north of downtown’s marquee greenspace, Republic Square. Downtown’s unprecedented surge in development is reflective of Austin’s emergence on the national stage as both the top overall real estate prospect1 as well as the number one place to live2. Martin Luther King Jr Blvd 15th Street Texas State Capitol WP d v l B o t n i c a J n a S e u n e v A s s e r g n o C 6th Street MR Convention Center 11th Street I - 3 5 Plaza Saltillo Cesar Chavez Street Lady Bird Lake Rainey District South Central Waterfront Emerging Development Recently Completed Under Construction Planned or Proposed Public Projects The Otis Hotel - (hotel, 40,000 sf) The Huston - (residential, 350,000 sf) 1836 San Jacinto - (office, 248,596 sf) Alexan Capitol - (residential, 421,000 sf) State Office Building #1 - (public, 603,000 sf) The Tyndall at Robertson Hill - (residential, 182,000 sf) 410 Uptown - (office) Episcopal Church Site Block 87 - (mixed use) 17th Street Condos - (residential) Hyatt Centric Hotel - (hotel) State Office Building #2 - (public, 416,000 sf) 701 Rio Grande - (office) SXSW Center - (office, 143,988 sf) Canopy by Hilton - (hotel, 120,000 sf) 1313 Red River Street - (office) 6X Guadalupe - (office) 1205 Nueces at Capitol West - (office, 11,297 sf) Indeed Tower - Block 71 - (office, 669,130 sf) 1204 San Antonio Street - (office, 41,698 sf) Hanover Republic Square - (apartments, 436,518 sf) Westview - (office, 100,000 sf) Waterloo Park Tower - (hotel) 5th & Brazos - (mixed use, 692,351 sf) Plaza Saltillo - (mixed use, 260,000 sf) 13 14 15 16 17 18 19 20 21 22 23 24 1 2 3 4 5 6 7 8 9 10 11 12 25 26 27 28 29 30 31 32 33 34 35 Gables Republic Park/Hotel ZaZa - (hotel/ residential, 160,000 sf) 405 Colorado Street - (office, 200,758 sf) The Independent - (residential, 950,000 sf) The Republic - (office) 300 Colorado - (office, 367,655 sf) Block 36 - (residential) Third and Shoal - (office, 345,000 sf) Austin Proper Hotel and Residences - (hotel/residential, 500,000 sf) Block 185 - (office, 719,470 sf) Austin Marriot Downtown - (hotel, 590,000 sf) The Quincy - (office/residential, 502,973 sf) Development Pipeline 36 37 38 39 40 41 42 43 44 Waller Park Place - (mixed use) The Travis - (residential) Homewood Suites - (hotel, 125,525 sf) 78-84 Rainey - (office) 70 Rainey - (residential, 260,190 sf) Austin American Statesman - (mixed use) RiverSouth - (office, 368,611 sf) 48 East Avenue - (residential) 44 East Avenue - (residential) WP Waterloo Park MR Downtown Metro Rail Station PROJECTS TOTAL SQUARE FOOTAGE OFFICE SPACE, SF RESIDENTIAL UNITS HOTEL UNITS PARKING SPACES RETAIL SPACE, SF RECENTLY COMPLETED* 2,266,703 587,488 UNDER CONSTRUCTION 7,559,057 3,845,908 PLANNED OR PROPOSED 11,803,252 3,732,126 937 2,528 2,428 309 1,722 839 2,920 31,500 11,457 123,492 2,048 131,256 21,629,012 8,165,522 5,893 2,870 16,425 396,248 8 20 16 44 TOTAL About Us The Downtown Austin Alliance leads and participates in a broad range of programs and initiatives that create, preserve and enhance the value and vitality of downtown Austin. Information included in this report was compiled and analyzed by the Downtown Alliance staff. Sources include City of Austin permitting, CoStar, Visit Austin, property developers, and other real estate professionals. The next Downtown Development Summary will be published as a part of the State of Downtown Report in April 2020 and you can always find our interactive project map on our website www.downtownaustin.com. *Note: Recently Completed category includes projects finished in 2019. 1 _ ULI Emerging Trends in Real Estate, 2020 Report 2_ U.S. News and World Report, 2019 Downtown Neighborhood Boundary726812131416153145910111718 1920212223242526272829303332313435363738394041424344