BOKA Plans 302-Unit Complex; Sears Considers Austin for Headquarters
- Oct 14, 2011
A week ago, BOKA Powell announced its plan to develop a four-acre residential development south of Lady Bird Lake. The project, called River View, will include 302 apartments, which will be located in four buildings ranging from five to 11 stories.
Slated to open in the spring of 2013, BOKA’s project follows a trend in the U.S—that of high-density residential projects expanding outside of downtown. For example, if such a project was built in a typical singel-family model, it would have needed a construction site of about 80 acres. But as a high-density model, the project requires only a four-acre site, according to the Austin Business Journal.
BOKA plans to include ecosystems such as water-saving plumbing fixtures, local and recycled materials, and preferred parking for fuel-efficient vehicles. Plans also call for a LEED Silver rating. This is not the only large-scale residential project that BOKA has developed in Austin. Among its largest projects in Austin are The W Residences, Cole Apartments and Barton Place Condominiums.
In other news, Austin is considered to be a very strong candidate for Sears, which is moving its headquarters from Illinois. By the end of this year Austin officials should know whether or not Sears will move its headquarters to Austin or to Columbus, Ohio. Austin Business Journal reports that company representatives find both locations attractive for their generous incentives.
Sears announced early this summer the plan to move its headquarters and 6,200 employees out of the Village of Hoffman Estates, as both state and local incentives are near expiration at the end of 2012, according to WOSU News. On top of that, the State of Illinois this year raised its corporate income tax rate 46 percent, from 4.8 percent to 7 percent.
Project image of Riverview residential development, courtesy of BOKA Powell