Tower Adds to Multifamily Boom

A new tower peaks on Austin’s skyline.
Northshore, Austin

Northshore,  Austin

New data released by the U.S. Census Bureau reports that metropolitan Austin’s population grew from 1,883,051 in 2013 to 1,943,299 in 2014. That 3.2 percent growth rate equates to 165 new residents each day. The city’s skyline is changing as new projects rise to meet the demand.

One such project is currently under construction at the intersection of Second and San Antonio streets. At that site, Trammell Crow Co. and The Hanover Co.,  along with Pacific Life Insurance Co., their capital partner,
are developing Northshore, a 439-unit Class A tower.

“We are thrilled to have reached this milestone and are eager for the grand opening early next year and the diverse tenant base we have already secured,” Adam Nims, principal with Trammell Crow, said in a statement. “Northshore will offer luxury residential units for people who want to be in the center of CBD living with some of the best views available and easy accessibility to all the shopping, cultural and nature amenities the city has to offer.”

The mixed-use tower is located at 110 San Antonio St., walking distance from Moody Theatre, Trader Joe’s, Whole Foods, Austin’s new Central Library, Austin Music Hall, the Austin Ballet, restaurants and a variety of retailers. The proximity to Lady Bird Lake gives immediate access to Austin’s hike and bike trails.

“Northshore will be the most highly amenitized residential building in downtown Austin, and is surrounded by all that make this city such a desirable place to live, work and play,” added David Ott, development partner with The Hanover Company.

The 38-story tower will offer one-, two-, and three-bedroom apartments. Northshore will feature a pool deck on the eighth floor overlooking Lady Bird Lake, a state-of-the-art fitness center and resident lounge, 24,000 square feet of boutique office space pre-leased by Galvanize, and 28,000 square feet of ground floor retail (6,800 square feet at the corner of Secondnd and San Antonio pre-leased by a local restaurant group, plus8,000 square feet leased by an undisclosed tenant).

The development is a candidate for LEED Silver certification and an Austin Energy Green Building 2-Star rating. Pre-leasing will start in November, with the first units available for occupancy in early 2016.

Image courtesy of Trammell Crow Co.