Check out the link below to download our Austin Market Outlook for 2018! This report discusses office, industrial, retail, multifamily, and economical statistics for the Austin MSA.
We’ve added a new section detailing exciting developments in various stages of completion around town.
HCP Austin Market Outlook 2018
After an eight month delay and a $36 million legal battle with their contractors, Austin’s largest hotel finally opened at the northwest corner of Red River and Cesar Chavez. Not only is it the largest hotel in Austin, it’s the largest Fairmont hotel in the world. Fairmont Austin contains 1,048 rooms and close to 140,000 square feet of meeting space while employing 900 people. Amenities include five restaurants, a full service spa, and pool deck on the 7th floor. An elevated walkway connects the hotel directly to the Austin Convention Center across the street.
via Fairmont Austin hotel opens just in time for SXSW – Austin Business Journal
With a projected delivery for March 2019, Cielo Property Group broke ground on The Foundry at Fourth and Comal in East Austin earlier this week. The site is at 310 Comal St near the Plaza Saltillo Metro Rail station. Plans call for a 95,444 square foot mixed-use complex. DPR Construction is the contractor for the project and also pre-leased 30,000 square feet of the complex for its new headquarters. The complex will also include 17 residential condos.
via Cielo Breaks Ground on East Austin Mixed-Use Project – CoStar Group
This week ground broke on East6, a 115,000 square foot office building, at 2010 East 6th St between Chicon St and Robert Martinez Jr St. The 1.33 acre site plans to have four stories of parking garage space, outdoor balconies, rooftop patio, and space for food trucks and bicycle storage. Main Street Hub, a local Austin marketing platform, will relocate its operations and employees to this building upon completion which is scheduled for Spring 2019. East6 will be one of the first single-tenant Class A office buildings on the east side of town.
via AQUILA Breaks Ground on 115,000-SF Main Street Hub HQ in East Austin – CoStar Group
Cielo Property Group has assembled six contiguous lots in the 1600 block of East Fourth Street, advancing plans for a multi-story mixed-use building at the corner of East Fourth and Comal Streets. Cielo would like to build a six-story, LEED certified mixed-use building that would be primarily offices. Some ground-floor retail with a cafe or restaurant component is also under consideration. The developers are expected to deliver the space in the first quarter of 2019.
Get the scoop at Towers.
Located along East William Cannon Drive, just east of Interstate Highway 35, TATI Investments Group has received the approval on a necessary zoning change to allow for the development of a Hispanic grocery store on its 8.06 acre site. The development is planned to have 165,600 square feet of retail space.
Located at the northeast corner of South Congress and West Slaughter Lane, Encore Enterprises, a Dallas-based real estate investment firm, has signed several tenants including Golds Gyms and H-E-B to its planned retail development. Currently vacant land, the site is located just north of a larger retail development known as Southpark Meadows.
This 11-story, 347-room hotel project at 1901 San Antonio Street is a dual-branded development including both the Autograph Collection and AC by Marriott — the Autograph Collection is a more luxury-minded, full-service brand, while AC by Marriott appears to trend toward contemporary urban.
Though the two brands share a single building, they’ll have separate entrances and lobbies. The project is being developed by White Lodging Services Corporation. To make way for the Autograph/AC project, White Lodging is in the process of securing permission to demolish the McDonald’s restaurant at 414 W. Martin Luther King Blvd. The McDonald’s restaurant has closed down as of July 1st, 2017 to make way for demolishing.
22 West Residential will be 18-stories. There will be four underground parking levels, and the first two floors will be for “student gathering and support.” Levels 3-18 will be residential. It’s being developed by Capstone Collegiate Communities.
Still in the planning phase, located at 23 Nueces Street, the 0.95-acre site will have an 18 story building with 212 multifamily units, 3 levels of underground parking, as well as office/retail space.