![]() ![]() One of Ryan's highest-profile projects is the 32-story tower at Fifth and Brazos streets downtown that is home to the Thompson and tommie hotels and the Sienna at the Thompson apartments. and the city of Austin's Permitting and Development Center at the redeveloped Highland Mall. The company developed the headquarters for Oracle Corp. Ryan Companies debuted in Austin in 2012. "Austin is taking its place as one of America’s most desirable locations, especially for tech talent." "This is our first investment in Austin, but we expect it won’t be our last," President and CEO Rob Speyer said in February 2021. Last year, Tishman Speyer acquired the Foundry I and Foundry II, a two-building office complex in East Austin that is 96% leased. The tower will be Tishman Speyer’s second major investment in Austin. More: Another new high-rise – this one a 50-story tower – planned for downtown Austin The 321 West project is being designed by three well-known firms – Handel Architects, partnering with Austin-based Page and interiors by INC Architecture & Design.Īmong other amenities, the building will have a lounge and terrace on the 55th floor with panoramic views of downtown Austin and Lady Bird Lake, its developers said. "As bars, restaurants and music venues reopen, the appeal of the downtown lifestyle is overcoming the COVID-induced aversion to high-density living." "The downtown market recovery has been remarkable, fueled by strong demand from (new) and existing tenants who are returning to the downtown area," Heimsath said. More: Facebook's parent company signs big lease in 66-story Austin tower 'Remarkable' recovery for downtownĬharles Heimsath, an Austin-based real estate expert who conducts market research studies for developers on their proposed projects, said he did some early consulting for Ryan Companies as the 321 West project was being conceived. They said financing is in place, but declined to identify the lender. Ryan and Tishman Speyer, whose portfolio includes Rockefeller Center and Yankee Stadium, declined to release a cost for the project. Nooshin Felsenthal, Tishman Speyer's managing director, said 321 West "will act as a magnet for the companies and residents who continue to flock to Austin from the nation’s coastal gateway cities." The area where the 321 West tower is planned is a hot spot for employers, apartment dwellers and condo residents as well as entertainment venues and other draws. More than 300 restaurants, bars and shops are currently within four blocks of 321 West, its developers said. Since 2016, more than 500 companies have relocated to or expanded in Austin, which now has more than 7,000 high-tech companies, Tishman Speyer and Ryan Companies said. The developers said 321 West is designed to appeal to the expanding base of talent and companies that continue to fuel Austin’s growth.Īustin's skyline keeps growing: 46-story office tower planned for downtown The building also will have 140,000 square feet of office space, as well as retail space and 440 parking spaces on floors two through 11. Sixth and Guadalupe will be 66 stories and 875 feet tall, which will make it Austin's tallest building when completed. Facebook's parent company, Meta Platforms, will occupy all 589,000 square feet of office space - 33 floors - in the towerĪt the new 321 West project, plans call for 369 apartments on floors 22 through 54. The new tower would be one block east of a mixed-use high-rise called Sixth and Guadalupe that is now under construction. More: 65-story hotel-condo tower would become Austin's 2nd-tallest building It is being built on a site that formerly housed a drive-thru BBVA bank and the Maiko Sushi restaurant, both of which have been demolished. The project is due to be completed in late 2024. Sixth St., is being developed by Tishman Speyer, a global real estate developer based in New York, and Minneapolis-based Ryan Companies. The project, named 321 West after its location at 321 W. Joining a recent spate of new tower announcements, a partnership between two developers says it has started work on a 58-story, 675-foot-tall skyscraper that will bring more apartments, offices and retail space to downtown Austin. Austin's high-rise building boom just won't slow down.
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