AUSTIN – (Realty News Report) – Carr Properties has announced plans to develop a 43-story tower that will bring 738,000 SF of office space into downtown Austin.
The building, called Block 16, is being developed with Manifold Development of Austin as its local partner.
Block 16 will be located at the intersection of San Jacinto Boulevard, Trinity and Second streets, near the Austin Convention Center and the future rail station.
The project is currently under preleasing with expected completion in spring 2026.
CBRE Executive Vice President Troy Holme and Senior Vice President Katie Ekstrom are the exclusive office leasing brokers marketing Block 16.
CBRE: Austin has “strongest office demand in the country”
“As Austin continues to generate the strongest office demand in the country, the emphasis has been on a ‘flight to quality’, especially in the urban core,” said Troy Holme, executive vice president at CBRE. “Without a doubt, Block 16 will be an absolute ‘best-in-class’ trophy asset and we are thrilled to be a part of the Carr Properties and Manifold Development team.”
The site is about three blocks north of the Lady Bird Lake and the Four Seasons Hotel.
Based in Washington DC, Carr is a private real estate investment trust active in Austin, Boston and Washington.
“We are very pleased to be expanding our presence in Austin with the development of Block 16 and are excited to be partnering with Manifold to deliver a next generation office building to downtown Austin. Our focus is on creating a first-class experience for our customers and we believe that Block 16 will deliver on that promise,” said Oliver Carr, CEO of Carr Properties.
Designed by Gensler, each floor will offer 10-foot, floor-to-ceiling windows and a virtually column-free workplace environment designed to maximize efficiency and access to light and air.
Downtown Austin has a significant amount of new office and mixed-use construction – projects underway, proposed and planned.
In late March, the Austin American-Statesman reported that a 74-story downtown project is being planned byLincoln Property Co. and Kairoi Residential at 98 Red River St., along Waller Creek. That development, the tallest in Austin, is expected to have 686,000 SF of office, 352 apartment units and a 251-room hotel.
Hines and Tishman Speyer both have multiple projects under development in Austin. And Stream Realty is developing the 15-story RiverSouth tower, anchored by the Baker Botts law firm, which leased 50,000 SF.
April 1, 2022 Realty News Report Copyright 2022
Image: Courtesy CBRE. Architecture: Gensler
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File: Carr Developing 43-Story Tower
File: Austin. Carr Developing 43-Story Tower with Manifold. CBRE.