AUSTIN– (Realty News Report) – Hines has started construction on T3 Eastside, a heavy timber office and boutique residential building in an eclectic eastside neighborhood in Austin.
In recent years, Hines has launched several dozen developments framed with wood to attain sustainability goals. Those projects have typically been seven-story office buildings with loft-flavored designs intended to appeal to “creative class” tenants.
“T3 Eastside is Hines’ first Class-A timber project with a residential component, and we are excited to introduce this unique product to the booming Austin market,” said John Mooz, senior managing director and Austin city head at Hines.
In addition to office space, this project will include15 loft-style residential units.
Located at 1200 East 4th Street in a dine-shop-live-work neighborhood community, T3 Eastside will consist of 93,000 SF of Class-A office and 9,200 SF of residential space. The complete project structure will be constructed using sustainably sourced wood, a first for Hines in the residential space. T3 (timber, transit, and technology) is a Hines proprietary mass timber creative product, developed in response to evolving tenant requirements.
Built from heavy timber, T3 Eastside will modernize the historical industrial design of mercantile warehouse buildings, designed specifically to be responsive to the evolving ESG requirements across the commercial real estate industry and to the health and wellness needs of its occupants in a post-COVID environment.
Hines’ design team for the project includes DLR Group, design architect and interior designer of common areas; TBG, landscape architect; and Harvey Cleary, general contractor. Amegy is providing construction and financing, and JLL will be handling leasing.
After being active in other Texas metros for years, Hines recently started a major thrust into the Austin market.
“With ambitious plans and a robust pipeline already in place, I look forward to increasing Hines’ presence across the city,” said Mooz, who managed development of the 47-story Texas Tower, which just opened in downtown Houston on the site of the former Houston Chronicle.
In Austin, Hines has additional projects under development including The Mirador, Lakeside at Tessera on Lake Travis, Residences at Wolf Lake and The Retreat at Easton Park, and the Four Seasons Private Residences Lake Austin which will have 179 lakeside homes with prices starting at $4.1 million.
Hines is a privately owned global real estate investment firm founded in Houston in 1957 by the late Mr. Gerald D. Hines. The company now has a presence in 240 cities in 27 countries. Hines oversees a portfolio of assets under management valued at $160.9 billion.
Feb. 28, 2022 Realty News Report Copyright 2022
File: Hines Starts Timber Development in Austin.
Photo and Rendering Courtesy Hines
File: (2) T3. Hines Starts Timber Development in east Austin.John Mooz. DLR.