5 Largest Developments Under Construction In Austin, San Antonio
It is tough to keep up with all the developments happening in the Texas Hill Country. From Frost Tower to the Domain, all product types have cranes in the sky. Here are the five biggest in the area, with data help from CoStar.
Villas at The Rim
A centerpiece of The Rim, this 427-unit mid-rise apartment complex has Spanish Modern architecture in a four-story wrap design. California-based Frankel Family Trust and Dallas-based Legacy Alliance are developing the 1.5M SF property set to deliver this spring. Legacy Alliance is focusing on service-oriented amenities for the project at 16333 Vance Jackson Road in San Antonio. Cadence McShane is the general contractor.
The Independent
This 658-foot-tall skyscraper at 301 West Ave. in Austin will deliver 950K SF and 370 condo units in 2019. The joint venture between Austin-based Constructive Ventures and Aspen Heights will not only be the tallest residential building in Austin, but the tallest this side of the Mississippi River. The tower with eye-catching design by Rhode Partners will have 20K SF of amenities across two floors.
Veramendi
Coming in at a somewhat surprising third, the Veramendi master planned community on Loop 337 in New Braunfels will deliver an 810K SF multifamily community after starting Phase 1 of construction in Q1 2017. This phase will have more than 5,000 homes and units. The project is developing as scheduled and meeting expected benchmarks, even though the development has been subject to backlash from nearby residents for so-called poor planning. The city will use $2.5M from the Texas Department of Transportation to improve Loop 337 near the community. The project has almost equal frontage to Loop 337 (1.9 miles) and the Guadalupe River (1.7 miles).
Oracle Campus
After unveiling plans for a massive campus in 2015, Oracle started site work on its new Southeast Austin campus at 2300 Cloud Way in August 2016. The 25-acre project with 551K SF and an eight-story parking garage is estimated to cost just less than $200M. The software giant also purchased the adjacent Azul Lakeshore Apartments with the intention to later convert units into workforce housing. Ryan Cos. is building the project designed by STG Design.
500 West 2nd Street
This tower named for its address will be Austin’s largest Class-A office tower with just over 500K SF. With tenants like Google and Austin Fraser, the 29-story project developed by Trammell Crow and Principal Real Estate Investors was 75% pre-leased in early March. The tower designed by Gensler has been pre-certified LEED Gold and has the first elevator dispatch system in Austin.
