Mixed-Use Tower Breaks Ground in Austin
The 30-story development, anticipated to open in the first quarter of 2021, will be the first in the area to combine retail, office and residential uses in a single building.
Endeavor Real Estate Group and MetLife Investment Management, MetLife Inc.’s institutional asset management business, have broken ground on The Quincy, a 30-story mixed-use tower in Austin’s Rainey Street District. The tower, anticipated to open in the first quarter of 2021, will be the first in the area to combine retail, office and residential uses, all in one building.
The site on Red River Street is bounded by Driskill Street to the north and Davies Street to the south. In its vicinity, a new Whole Foods Market is slated for Saltillo, another Endeavor development located between 4th and 5th streets, along Interstate 35. Also nearby are the Austin Convention Center and two hotels—Hotel Van Zandt and Fairmont Austin—as well as popular restaurants. Lady Bird Lake is easily accessible as is its renowned Ann & Roy Butler Hike & Bike trail.
“The Rainey Street District has evolved into a thriving, organic, walkable neighborhood full of unique bars, restaurants, hotels and housing adjacent to Lady Bird Lake on the hike and bike trail. The Quincy will weave nicely into the fabric of the neighborhood and establish a new front door to the district,” Jamil Alam, managing principal for Endeavor, said in a prepared statement.
The Quincy, which will merit two stars from the Austin Energy Green Building rating system, will consist of ground-level retail with separate, dedicated residential and office lobbies. The retail space totals approximately 10,360 square feet and includes one level of below-grade parking. Seven floors of above-grade parking, including an office parking ratio of up to three spaces per 1,000 square feet. Class A office space will occupy three floors, totaling about 77,540 square feet. Amenities for this portion include outdoor terraces with lake views, secured bike storage, a dedicated ground-floor separate from the residential tower, and shower on every floor.
The residential component will spread across 19 floors and will include 347 units for lease and multiple guestrooms for visitors. Outdoor amenities include a lush terrace with pool, a fire pit, cabanas, an observation deck and an exercise lawn. On the 30th floor there will be an indoor/outdoor sky deck overlooking Lady Bird Lake. The property will feature a dog grooming spa, a sports lounge, a media room, a large co-working space and business center, ample package lockers and a lounge area to serve as waiting area for transportation networking companies like Uber and Lyft.
Ziegler Cooper Architects designed the 360-foot-tall tower, Kimley Horn is the project’s engineer, Brockette Drake Davis is the structural engineer and Blum Consulting Engineers is the MEP engineer. IBC Bank is the lender on the project and Rogers-O’Brien Construction Co. serves as general contractor.
Adam Zimel, Dan Frey and Michele Gary, all retail specialists with Endeavor, are handling leasing for the retail space. Jonathan Tate, principal with the company’s office and industrial division, and Associate Luke Barney are overseeing the office leasing. “The Quincy’s location alone is an incredible amenity,” Tate added, saying the space is already generating interest from a range of potential tenants, from tech/creative firms to financial groups.
Images courtesy of Ziegler Cooper Architects