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62-Story Tower Will Be the Tallest Building in Austin

Lynd’s proposed 62-story tower in Austin is designed by Gensler.

AUSTIN – A San Antonio developer has announced plans for a 62-story mixed-use tower that will become the tallest building in Austin, according to Shonda Novak of the Austin American-Statesman.

The building, designed by Gensler, will have 300 apartment units and more than 500,000 SF of office space and retail space, says Michael Lynd of the Lynd Co., which is working with Lincoln Property Co. on the deal.

The building will be built on a block bounded by West Sixth, West Seventh, Guadalupe and San Antonio streets. The developers have contracted to buy the Extended Stay American hotel, which is now operating on the site at 600 Gudalupe, Novak reports.

Currently, the tallest building in Austin is The Austonian condominium tower in downtown. Designed by Ziegler Cooper, it stands 683 feet tall.

The proposed 62-story Lynd tower would be 850 feet tall, the Austin  newspaper reported. Houston has several taller buildings, including the 75-story Chase Tower, developed by Hines in the early 1980s.

Lynd has a track record in Austin. The firm recently partnered by Endeavor Real Estate to build the 36-story Bowie residential tower in Austin.

The Austin office market continues to show strength. The 500 West 2nd tower, a 500,000-sf building anchored by Google, recently opened at 95 percent leased.

Austin’s overall vacancy remained low – at 8.7 percent in the second quarter, Avison Young reported. Demand for office space from large technology tenants relocating to the Austin market is also solid, driving leasing activity and rental rates to new highs, Avison Young said.

Aug. 7, 2017 Realty News Report Copyright 2017

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