DOWNTOWN AUSTIN DEVELOPMENT November 2019 Development Summary
Martin Luther King Jr Blvd
1
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.
5
15th Street 7 8 9
10
Texas State Capitol
11
27
28
31 32 33
26 29
4
410 Uptown - (office)
5
17th Street Condos - (residential)
6 7 8
13
The Huston - (residential, 350,000 sf)
14
Alexan Capitol - (residential, 421,000 sf)
15
The Tyndall at Robertson Hill - (residential, 182,000 sf)
16
State Office Building #2 - (public, 416,000 sf)
18
SXSW Center - (office, 143,988 sf) 1313 Red River Street - (office)
9
1205 Nueces at Capitol West - (office, 11,297 sf)
10 11
Cesar Chavez St
39 40
Rainey District
South Central Waterfront
Gables Republic Park/Hotel ZaZa - (hotel/ residential, 160,000 sf)
26
405 Colorado Street - (office, 200,758 sf)
Episcopal Church Site Block 87 - (mixed use)
27
The Independent - (residential, 950,000 sf)
Hyatt Centric Hotel - (hotel)
28
The Republic - (office)
701 Rio Grande - (office)
29 300 Colorado - (office, 367,655 sf)
Canopy by Hilton - (hotel, 120,000 sf)
20
6X Guadalupe - (office)
21
Indeed Tower - Block 71 - (office, 669,130 sf)
1204 San Antonio Street - (office, 41,698 sf)
22
Hanover Republic Square - (apartments, 436,518 sf)
Westview - (office, 100,000 sf)
23
5th & Brazos - (mixed use, 692,351 sf)
12 Waterloo Park Tower - (hotel)
24
Plaza Saltillo - (mixed use, 260,000 sf)
reet
38
43 44
Planned or Proposed
Under Construction 25
19
30
36 35 37
42
Recently Completed
17
Convention Center
41
Emerging Development
15
24 Plaza Saltillo
MR
Lady Bird Lake
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.
State Office Building #1 - (public, 603,000 sf)
23
34
marquee greenspace, Republic Square.
3
San Jacinto Blvd
Lamar Blvd
22 25
16
6th Street
21
Congress Avenue
20
11th Street I-35
19
6X Guadalupe, Austin’s next tallest building, broke ground this past month. The project is located just two blocks north of downtown’s
1836 San Jacinto - (office, 248,596 sf)
12 13
17
18
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.
2
WP
14
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.
The Otis Hotel - (hotel, 40,000 sf)
Downtown Neighborhood Boundary
6
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.
1
2
3
4
30
Block 36 - (residential)
31
Third and Shoal - (office, 345,000 sf)
32
Austin Proper Hotel and Residences (hotel/residential, 500,000 sf)
33
Block 185 - (office, 719,470 sf)
34
Austin Marriot Downtown - (hotel, 590,000 sf)
35
The Quincy - (office/residential, 502,973 sf)
Public Projects
36
Waller Park Place - (mixed use)
37
The Travis - (residential)
38
Homewood Suites - (hotel, 125,525 sf)
39
78-84 Rainey - (office)
40
70 Rainey - (residential, 260,190 sf)
41
Austin American Statesman - (mixed use)
42
RiverSouth - (office, 368,611 sf)
43
48 East Avenue - (residential)
44
44 East Avenue - (residential)
WP
Waterloo Park
MR
Downtown Metro Rail Station
Development Pipeline PROJECTS
TOTAL SQUARE FOOTAGE
OFFICE SPACE, SF
RESIDENTIAL UNITS
HOTEL UNITS
PARKING SPACES
RETAIL SPACE, SF
RECENTLY COMPLETED*
8
2,266,703
587,488
937
309
2,920
31,500
UNDER CONSTRUCTION
20
7,559,057
3,845,908
2,528
1,722
11,457
123,492
PLANNED OR PROPOSED
16
11,803,252
3,732,126
2,428
839
2,048
131,256
TOTAL
44
21,629,012
8,165,522
5,893
2,870
16,425
396,248
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
_ U.S. News and World Report, 2019
2