Austin– (Realty News Report) – Tishman Speyer and Ryan Companies have broken ground on a 58-story tower that will stack 369 apartment units above 140,000 SF of office space.
The tower, scheduled to open in late 2024, will be located at 321 West 6thStreet and it will be named 321 West.
The new tower is located close to the new Sixth and Guadalupe building under construction by Lincoln Property Company and San Antonio-based Kairoi Residential. Facebook just leased 589,000 SF in the Lincoln/Kairoi tower.
6th Street has helped Austin earn the distinction of being the “Live Music Capital of the World,” and more than 300 restaurants, bars and shops are currently within a four-block radius of 321 West, Tishman Speyer said.
Tower Rising Near Joe Rogan’s New Comedy Club
The Tishman Speyer/Ryan project is located six blocks from the historic Ritz Theater, which has recently acquired by a group affiliated with Joe Rogan, the controversial podcaster. Rogan is planning a comedy club at 320 E. Sixth Street, in the old Ritz Theater, which was built in 1929. The club will be called the “Comedy Mothership,” according to documents at the Austin Historic Landmark Commission.
Tishman Speyer is one of the largest real estate developers in the nation with properties in 30 key markets across the United States, Europe, Asia and Latin America.
“With its elevated high-rise living experience, cutting-edge office design and unparalleled access to retail, nightlife and mass transit, 321 West will act as a magnet for the companies and residents who continue to flock to Austin from the nation’s coastal gateway cities,” said Tishman Speyer Managing Director, Nooshin Felsenthal. “We are fortunate to have found the perfect project and an ideal partner in Ryan Companies for our first ground-up development in Austin.”
“Impressive, that’s what really comes to mind with 321 West,” said Ryan Companies Vice-President David Knoll. “We’re excited to be working with Tishman Speyer and believe the team has persevered to create an exceptional high-rise for new residents and companies relocating to our city. Personally, I’m also very pleased to kick-off construction and look forward to seeing this building claim its place in the Austin skyline.”
Tishman Speyer and Ryan are collaborating with three celebrated world-class design firms – Handel Architects in partnership with Austin-based Page and interiors by INC Architecture & Design. The 561,000-SF tower will feature apartments spanning the 22th through 54th floors. The project’s 55th floor sky-lounge and terrace will provide views of downtown Austin and Lady Bird Lake.
321 West will incorporate 140,000 SF of contemporary offices on floors 12 through 18. The tower will also feature a 1,000-SF curated retail experience situated between separate, dedicated office and residential lobbies at street-level, as well as 440 parking stalls on floors 2 through 11.
321 West is Tishman Speyer’s second major investment in Austin. In 2021, Tishman Speyer acquired Foundry I and Foundry II, a recently-completed two-tower development in East Austin that is already 96 percent leased.
Ryan, which established its presence in Austin in 2012, has previously completed include the 560,000-SF headquarters for Oracle Corporation in East Austin, the 251,000-SF Permitting and Development Center for the City of Austin at the redeveloped Highland Mall and a 32-floor mixed-use tower development home to Thompson Hotel and multi-family community, Sienna at the Thompson in Downtown Austin.
March 14, 2022 Realty News Report Copyright 2022
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Photo credit: Kat Harris Photography
Rendering: Neoscape.
File: Groundbreaking Held for 58-Story Tower
File: Austin. Groundbreaking Held for 58-Story Tower on West 6th Street. Tishman Speyer and Ryan Companies.