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Multifamily Project Winner: The Independent

The Independent is Named the Top Multifamily Project

in ABJ’s 2020 Commercial Real Estate Awards

 

 

Category: Multifamily development

Companies involved*: Buyer broker: Constructive Ventures

Seller brokers: City of Austin (land sale), Urbanspace Real Estate + Interiors (condo sales)

Lead developers: Aspen Heights, CIM Group

General contractor: Balfour Beatty

Primary architect: Rhode Partners

Primary MEP: Garza Bury

Landscape architect: Studio Balcones

Interior designer: Rhode Partners

Civil engineer: Urban Design Group

Structural engineer: LAM+DCI

Title companies: Heritage Title (land sale); Heritage Title and Stewart Title (condo sales)

Financiers: CIM Group, Bank of the Ozarks

Law firms: Dubois Bryant & Campbell LLP, Winstead PC

* all information provided by nominator

Why it won: The Independent tower’s Jenga-like design marked a welcome addition to the downtown skyline when it was completed in 2019.

Austin’s tallest tower at 58 stories, The Independent has also turned heads with its unique crown — which is now illuminated at night to give the tower a special glow at all hours of the day. There’s enough intrigue in The Independent that the story of it’s design and construction has been featured in a Science Channel program called “Impossible Engineering.”

And the hits just keep coming: The Independent has now been honored with a 2020 CREA Award for a new or rehabbed multifamily development.

The Independent features 363 condo units across 950,000 square feet while resting upon just 1.7 acres, maximizing the land and taxable value. The $300 million-plus project has helped the city of Austin reinvigorate a portion of downtown that has gone from hosting power and water plants to towering, new buildings that welcome people day and night.

Aside from its architectural prowess, The Independent has met LEED Gold certification standards for environmental efficiency and sustainability — its application for official LEED Gold certification is currently pending.

What’s more, project co-developers Aspen Heights and CIM Group contributed more than $1 million to various funds that helped improve the infrastructure and beauty of the area.

 

Get to Know Austin’s High-Rise King, Kevin Burns

Get to Know Austin’s High-Rise King

 

FEATURED IN TRIBEZA’S SUMMER 2020 ISSUE

KEVIN BURNS SHARES A PERFECT DAY IN ATX

 

Known as Austin’s High-Rise King, and our own beloved CEO and Founder, Kevin Burns has helped shape the Austin skyline for over 20 years now with the 20th anniversary of Urbanspace. Featured in Tribeza’s Summer 2020 Issue, Burns shows off his expertise of the downtown Austin lifestyle, and welcomes the public into what makes up the perfect day in downtown Austin. 

 

 

Burns likes to start his day early with a bike ride around the Lady Bird Lake Hike & Bike Trail which happens to be a favorite exercise spot for many members of the Urbanspace team, both real estate agents and designers alike. Just a short ride away from the new Urbanspace HQ, and Burns’ residence at The Independent, the trail is the perfect place to connect with nature, enjoy the city’s green space, and break a sweat. 

 

 

After his workout, Burns is all about eating, drinking, and being social. A few of his favorite weekend activities include brunch at TRACE, hanging poolside at The Independent, dinner at ATX Cocina, and catching a show at Stubb’s or Moody Theater

 

Watch the video, or check out the full article featured on Tribeza’s website to get the full scoop on a perfect day in Austin and what the future of downtown development looks like in Austin.

  

5 Great Tips for Downsizing to a Condo

By Abby Drexler

There are many reasons why you might be downsizing to a condo, including the fact that your kids have moved out of the house and you no longer need the space, you need a place that requires less maintenance or you are looking for a change. No matter what the reason, getting ready to move from a larger home into a smaller one will take some time and effort.

 

1. Plan Ahead

Since it can take a while to sort through your belongings and sell the home you are currently living in, you’ll want to make sure you give yourself plenty of time to get through the process. If you are moving with a family member or spouse, make sure everyone is comfortable and on board with the downsizing decision. This can reduce having to deal with hurt feelings and anger later down the road. Depending on your situation, you may need a few months to get all of your things together and make sure everyone is comfortable, or you may need up to a year. Make sure to take as much time as you need.

 

2. Consider the Items You Can’t Live Without

Through the years of living in your current home, you have no doubt acquired a lot of different things. Some of these will be important to you, and others not so much. Before moving into your new condo, it’s a good idea to make a list of the things that you can’t live without. This might include sentimental items that were given to you by friends or family members or pieces of furniture that are incredibly comfortable that you just have to have.

 

3. Get Rid of Things You No Longer Need

For all the items that didn’t make it onto your list, you’ll need to decide what to do with them. There won’t be enough room in your condo for all of your belongings, so the only options you have are putting your stuff in storage (which will incur a monthly cost) or getting rid of them. If any of the items are in good shape, consider recycling, selling ordonating them. The only things that you should throw away are items that are broken.

 

4. Know the Measurements in Your New Place 

Before moving any items into your new condo, it’s helpful if you know the measurements in your new place. This will ensure that your furniture and other belongings will fit. If they won’t, then you’ll need to make some decisions about what to do with them. This step can help you reduce your belongings even further to ensure that you are only taking the necessary items to your new home.

 

5. Work with a Moving Company

Once you are ready to move into your new condo, make sure to work with a moving company. This will make the process easier. You won’t have to worry about asking friends or family members to help move you into your new condo, and you won’t have to stress about how you’re going to move the heavy items. If you work with the right moving company, they may even pack your belongings for you.

 

Deciding to downsize your home and move into a condo is a major life decision. It will come with some stresses and fears, but it can also be viewed as an exciting new adventure. It will take some time and effort to get ready for the move, but putting a plan in place and having people help, including professional movers, will make the process less daunting and challenging.

Downtown Development Digest | East Side Introduces Saltillo

As Austin continues to top the lists for real estate growth in the Country, we also see zip codes become hot on the list of fastest-gentrifying neighborhoods in major American cities. These zip codes — 78702 and 78721, predominately areas located in East Austin, have seen the most substantial change in the past decade.

Just a few years ago, the stretch of city blocks from East 5th Street and East 4th Street just east of I-35 was the home to empty warehouses and illegally dumped trash that had been burned and buried. This site sat empty for just over two decades without any development and contaminated soil throughout the six-block, 10-acre span.

The land is owned by Capital Metro and includes the Plaza Saltillo MetroRail Station. The developers explained that “Saltillo” was designed to encourage people to walk, bike, and use transit. Enacting on a community plan that was put into place starting with a vision 20 years ago in order to bring the community together through improved connectivity, service offerings for the neighborhood, as well as offices, retail and residential living communities. This project was influenced by the booming neighborhoods of young professionals whom are health and fitness minded, that have flocked to East Austin.

In addition to the rail station that runs through the site, they are aiming to make Saltillo a transit hub, with below-and-above ground parking garages, electric vehicle stations and an extension of the Lance Armstrong Bikeway.

Saltillo soon plans on opening a 36,000 sqft Whole Foods and a 26,000 sqft Target, that will also contain a CVS inside. The Developers said it was important to add a grocery and connivence store to this project, as neighbors when polled previously said a top feature the community was lacking was simpler access to fresh fruits and vegetables.

Currently there are a few businesses up and running, those include:

  • Club Pilates
  • Chipotle
  • Spectrum Communications
  • JuiceLand
  • Snooze
  • Orange Theory Fitness

 

The Businesses preparing to open are:

  • Target
  • Whole Foods
  • Cherry Blow Dry Bar
  • Hopdoddy Burger Bar
  • The Kebab Shop
  • Enamel Dentistry
  • Poke Austin
  • Dolce Neve Gelato
  • Nails on 5th
  • Gyu-Kaku Japanese BBQ

 

Google will also occupy a larger office space above Target in the upcoming months.

Read more about Saltillo at plazasaltillo.com»

The Austin Proper Introduces Four New Dining Concepts

The Austin Proper Hotel & Residences 
600 W 2nd Street

 

Since the grand opening of the Los Angeles based hotel & residences in downtown Austin in fall of 2019, the Proper has since introduced four new dining concepts to add to the captivating Austin cuisine.

Located in the Second Street District of Downtown Austin, it is in close proximity to the Google building, Facebook HQ, 360 Condos,  The Independent, The Bank of America offices, Urbanspace Real Estate + Interiors and Seaholm Residences. Being so close to the center of the downtown these new dining concepts give a grand dining experience for many to enjoy.

Celebrity interior designer, Kelly Wearstler was the master-mind behind the lavish and urban design of The Proper and its four lush dining experiences. While local McGuire Moorman Hospitality, the team behind Austin hotspots like Elizabeth Street Cafe, Clark’s and Jeffery’s, exclusively partnered with The Proper to create these Four dining concepts.

 

The Mockingbird

The mockingbird offers mediterranean grab and go options in a sidewalk café. Here you can order morning pastries and coffees at the counter, savor contemporary takes on falafal in the afternoon or grab a rotisserie chicken with sides in the evening for a simple and smooth weeknight dinner.

 

 

 

 

 

The Peacock

Inspired by foods and flavors of the Eastern Mediterranean, such as North Africa, Greece, Israel , and Lebanon — The Peacock gives a new twist to the worldly decadent cuisine. Mezze and wood-grilled flare is colorful and loosely plated, healthy and wholesome. Natural wines, light mixed spirits with lots of fresh herbs, fruits and citrus add to the menu.

 

 

 

 

 

Goldie’s

Inspired by a little old-fashioned back room, with whispers of a Turkish bar translated with a touch of Austin’s cool, laid-back vibe. Seating at the actual sunken bar inspires in-depth conversations for guests to linger over boutique wines, supercall sips, and garden-fresh cocktails.

 

 

 

 

La Piscina

A vivacious poolside restaurant and bar serving Texas-inspired Mexican Cuisine for dinner, with lunch and brunch to come soon. The vibrant open space on the 5th floor, overlooks the downtown Austin bustle serving family-style platters, ceviches and table-top fajitas, with fresh seafood grilled over a wood fire and house-made tortillas from an open comal. The bar offers an accompanying selection of native spirts, frozen margaritas, and small batch tequilas and mezcals.

 

 

 

 

www.properhotel.com/austin

Two Popular Austin Bars to Be Bulldozed

Two Rainey Street establishments — Container Bar and Bungalow — are on track to be bulldozed to make way for a 53-story hotel and apartment tower.

On March 23, the Austin Historic Landmark Commission is scheduled to consider a proposal to demolish Bungalow, a former residence at 92 Rainey St. that dates back to the early 1900s. Container Bar, at 90 Rainey St., also is set to be torn down.

The developer of the high-rise plans to incorporate both bars into the new building. “The bars will stay open up until we start construction next year,” Kevin Burns, CEO of Austin-based Urbanspace Real Estate + Interiors, tells CultureMap.

The 582,513-square-foot, 606-foot-tall project features:

  • 349,508 square feet of hotel space, including 424 guest rooms.
  • 227,180 square feet of residential space, offering 198 studio, one-bedroom, and two-bedroom apartments. Nineteen of the units are earmarked for affordable housing.
  • 5,825 square feet of restaurant and bar space.

At 606 feet, the Rainey Street tower would be about 150 feet taller than the nearby Fairmont Austin hotel, which is the third tallest building in Austin (excluding its 139-foot-tall spire). The proposed site of the skyscraper covers a little over one-third of an acre.

Burns says construction is expected to start in mid-2021.

Read the full article at CultureMap.com »

Downtown Development Digest | Canopy by Hilton

West Sixth Street’s First Hotel

West Sixth Street has long been known as the mature, stylish sibling to the east side’s “Dirty Sixth,” yet a few development holes have remained. For some time there have been a few vacant sites in the area such as a decaying parking lot and several shuttered restaurants. Now at these sites will be filled with new eateries and a trendy boutique hotel that will amplify the strip’s reputation as a hip entertainment hub.

The construction started in July at 612 W. Sixth St. next door to Star Bar. Most people have no idea what to expect from a hotel designed for such an active commercial and nightlife district. This hotel is quite literally sandwiched between two bars. The Canopy by Hilton will be six stories tall, with an interior courtyard space that’s designed to insulate guests from as much 6th street noise as possible… we wish them luck with that on the weekends. The hotel will house 140 guestrooms, including five suites. Guests will be welcomed via an intimate lobby and a laidback open-air courtyard surrounded by natural materials and greenery. The bar and lounge concept will frame the courtyard and provide several seating options from sidewalk dining to cozy fireside enclaves. The restaurant’s theme isn’t yet defined, but the restaurant will likely have some healthier fare that won’t compete with the old-school diner experience of Holy Roller. The pool deck will serve as an elevated front porch, appointed with loungers and a bar pavilion. The hotel’s official name is Canopy by Hilton Austin Downtown, and its grand opening is planned for January 2020.

This hotel will be unique for people visiting Austin as it will be in the heart of downtown. Guests will get to experience everything Austin has to offer with nightlife and great food all at their fingertips. We are eager to hear what the new restaurant will be and excited to see the finished product!

Photos and information from https://www.bizjournals.com/austin/news/2018/06/21/real-estate-developer-coordinates-west-sixth.html and https://austin.towers.net/heres-a-new-view-of-canopy-by-hilton-west-sixth-streets-first-boutique-hotel/

Downtown Development Digest | Block 185

The new Google building will likely become a signature tower of the Austin skyline. The currently unnamed building is designed by internationally renowned “starchitect” Pelli Clarke Pelli. To achieve the title of starchitect, you’ve presumably got to design a lot of buildings considered iconic by the general public. This new building’s plan of a curved glass wall and tapered structure allows outdoor terraces on every level, creating the overall effect of a sail eternally catching a breeze from the lake across the street. It’s hard not to be excited about this tower’s look, which is immediately striking and pushes the boundaries of what we might expect from our growing skyline. The tower will have 793,883 square feet of office space—enough for about 5,000 people—and will include standard tech-company perks: a fitness center and recreation areas, lounges, kitchen and dining areas, conference centers, a bar/tavern, and, surely, more. Its 1,327 parking spaces will be on lower floors, with some of it underground. Google, which currently occupies a 29-story tower on another tract of the redevelopment site east of the new building site, has about 800 employees in Austin. While the upper floors of the new building will be occupied entirely by Google offices and parking, the structure will relate to its surroundings in a variety of ways. Retail businesses will occupy its ground floor, and its large, open lobby will provide access to the Second Street retail and entertainment district. The building also will have a plaza along Shoal Creek with bicycle and pedestrian access connecting West Cesar Chavez and West Second streets.

Photos and information from https://austin.towers.net/finally-weve-got-a-better-view-of-the-block-185-office-tower/ and https://austin.curbed.com/2019/4/2/18291500/google-building-austin-new-design-pelli

Downtown Development Digest | Natiivo

Natiivo Austin is a new concept in hospitality unlike any other. The long-awaited tower project at 48 East Avenue in downtown Austin’s Rainey Street District won’t be home to either condos or apartments. Instead, the 33-floor building will be built as a 249-unit hotel, but that’s really only half the story. Natiivo will be available for purchase— however, the buyers won’t be able to live there full-time. Instead they are encouraged to rent out their units on Airbnb when they aren’t staying there. The concept is different from a timeshare because buyers own their unit and don’t share it with other owners. Because the building is zoned as a hotel, owners can only reside in the building for a maximum of 30 days at a time. They can come back and stay as many times as they would like throughout the year. 

This flexible model combines the benefits of ownership with the ease and service of a high-end hotel. Units come stocked with premium linens, robes and slippers. There’s also in-room laundry and kitchens stocked with essentials. Ahead of their stay, owners and guests can request a stocked fridge, dog-walking services and fresh-cut flowers. Natiivo also has a 24-hour onsite concierge that can not only help guests navigate the city but also handle all reservation requests, check-ins and check-outs. Natiivo Austin will offer coworking spaces, a cafe lounge, a spa-inspired fitness center and a rooftop pool deck with private cabanas and lounge. 

Natiivo units are available for purchase online. They will range in price from the $300,000s to $1.2 million. Studio, one-bedroom and two-bedroom units will range in size from 454 square feet to 1,390 square feet.

Photos and information from https://austin.towers.net/airbnb-powered-home-sharing-concept-natiivo-heads-to-rainey-street-district/ and https://www.bizjournals.com/austin/news/2019/06/18/airbnb-branded-hotel-coming-to-austins-rainey.htm

Downtown Development Digest | Austin Proper Hotel & Residences

The Proper Place To Live

Proper has hotels in San Francisco, Santa Monica, Downtown L.A., and now Austin, Texas. Opening Fall 2019, the new Austin Proper Hotel and Residences includes 32 stories of glass and skyline views with 244 rooms and suites; 99 branded residences; four unique settings for dining and drinks; a focus on wellness with a dedicated spa and fitness center; plus a variety of atmospheric spaces for events. And it wouldn’t be Proper without a 5th floor rooftop pool deck offering small-batch tequilas and majestic lake views. The limited collection of 99 condominium residences and penthouses is part social club, part high-design hideaway—right in the cultural constellation of downtown’s Second Street District. Austin Proper Hotel and Residences offers an artful immersion in lifestyle and well-being. With emphasis on collaboration, the passionate, compelling vision of designer Kelly Wearstler meets the culinary creativity of Austin tastemaker McGuire Moorman Hospitality. 

“Each Proper Hotel is a reflection of its particular destination. Austin has a vibe, It’s casual yet sophisticated. Intelligent yet unaffected.” -Kelly Wearstler

Photos and information from https://www.properhotel.com/hotels/austin/

Relocating To Austin

No longer a hidden gem, Austin has become an international destination for businesses and tourists alike. Located in the heart of Central Texas and bordered by the scenic hill country to the west, Austin’s mild climate and relatively affordable cost-of-living appeal to many.

Austin is one of the fastest growing metro areas in the U.S., adding about 150 new residents each day in 2017, totaling nearly 55,000 newcomers in a single year. With predictions that the population is expected to double by 2040, we expect demand for housing to continue to strengthen.

While company expansions in Austin and the low employment rate are largely credited for the population boom, make no mistake Austin appeals to many purely from a lifestyle perspective. With ample parks and green space, miles of hike and bike trails and beautiful Lady Bird Lake meandering through the middle of town, newcomers and tourists flock to the city. The creative culture, live music and sheer energy of downtown Austin is contagious. And the tacos. Don’t forget the tacos.

Working with a great Realtor is invaluable when relocating to a new area. Urbanspace Realtors has specialized in the urban core and Central Austin area since 2000 and would love to be your go-to resource for all things Austin. Visit our team page to learn more about us, and our neighborhood page for unique market snapshots. Contact us for personalized assistance.

Click here for more helpful resources to help you with the move to Austin.

Downtown Development Digest | HEB + Favor

Hello Groceries

 

HEB is giving themselves a name in the digital retail market with Favor becoming a wholly owned subsidiary of their company. HEB and Favor are making a new home for themselves in Austin, Texas. Their creative tech facility and innovation lab will be in East Austin at 2416 East 6th Street. The 81,000 square foot building is being designed by IA Interior architects, and is projected to be complete in Spring of 2019. The building will be within walking distance of HEB’s 7th street store along with coffee shops, restaurants, and others.

In recent years HEB has started their curbside and delivery services that have been booming in cities around Texas. This new development will allow aggressive expansion of these services making our lives a whole lot easier. HEB is optimistic of their new development and is ready for Austin, “Bringing HEB and Favor closer together will allow us to promote collaboration between our two companies as we strengthen our commitment to building out HEBs omnichannel services”, says Jag Bath, HEB’s Chief Digital Officer. HEB being originally based out of San Antonio is excited to expand their footprint in Austin, Texas.  

 

 

Photos and information from https://newsroom.heb.com/h-e-b-announces-plans-to-develop-a-world-class-tech-facility-in-austin/ and https://austin.curbed.com/2018/9/5/17823380/austin-new-tech-headquarters-heb-favor

 

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