AUSTIN – (Realty News Report) – Hines is developing a heavy-timber office building in east Austin – Hines’ first project in the Texas capital in more than 40 years.
Houston-based Hines has been a leader in the timber-built office concept, a sustainable niche which it has branded T3 (timber, transit and technology.)
Called T3 Eastside, the Austin mass timber office and residential building will consist of 92,000 SF of office and 9,200 SF of residential space featuring 15 loft-style residential units.
“The complete project structure will be constructed using sustainably sourced wood, a first for Hines in the residential space. This is the first of several projects coming to the Austin market for Hines, with active prospects in the office, multi-family, senior living, life sciences, and student housing arenas,” Hines said.
With mass timber construction, instead of concrete and steel, the emission savings can be significant. In the construction process, timber generates around 50 percent lower CO2 emissions than concrete. In addition, timber delivers a higher insulation value.
T3 is a Hines proprietary mass timber creative product, developed in response to evolving tenant requirements. Timber is not only 100 percent renewable, recyclable and non-toxic, it is also known to have productivity and wellness benefits, Hines said.
Timber growth allows for trees to release oxygen and retain CO2, a process called carbon sequestration.
The Austin project is located at 1200 East 4th Street, a walkable 24/7 dine-shop-live-work neighborhood community.
“Hines is a strong believer in Austin’s economy, talented workforce, cost effectiveness and quality of living, and the world’s most innovative companies have recognized this and will look for office buildings that match their unique culture and standards,” said John Mooz, senior managing director and Austin city head at Hines.
“Hines has over 64 years of experience in Texas, and we look forward to growing our presence in Austin with several projects that will be announced in the coming months covering multiple product types,” said Mooz.
The T3 Eastside will allow tenants to attract and retain the talented employees, Hines said. JLL will handle leasing for the Austin project.
Hines recently announced plans for another timber building in Florida in a joint venture with Fort Lauderdale-based Urban Street Development. Its Fort Lauderdale mass timber office building will be part of FAT (Food Art Technology) Village, a 5.6-acre, 835,000-SF, mixed-use office, retail and residential urban village in Fort Lauderdale’s Flagler Village neighborhood. Located along North Andrews Avenue between 5th and 6thStreets, this four-block creative enclave will serve as the reimagined epicenter of the city’s art-centric environment. The 180,000-SF T3 FAT Village is expected to be completed in 2024.
For more about Texas real estate, check out the book Houston 2020: America’s Boom Town – An Extreme Close Up by Ralph Bivins. Available on Amazon http://tiny.cc/4a2g6y
“Houston 2020” Ebook version https://tinyurl.com/4xm7z8b5
File Hines Constructing Timber Building in Austin
File: John Mooz. T3 Eastside. Hines Constructing Timber Building in Austin at 1200 East 4th Street, Fort Lauderdale-based Urban Street Development