Austin | Stadium Tower | 264 Feet | 19 Floors | On Hold

[The ATX]

The site plan was approved and released today:

https://abc.austintexas.gov/public-s...ertyRSN=307370

[Novacek]

Originally Posted by The ATX

The site plan was approved and released today:

https://abc.austintexas.gov/public-s...ertyRSN=307370

Huh, it had been delayed so much I was sure they had decided to just wait for the red line station and go back to the drawing board for something even taller.

Though I guess with the McKalla station planned to be constructed ~2022, it still will probably beat this tower.

[StoOgE]

Originally Posted by Novacek

Huh, it had been delayed so much I was sure they had decided to just wait for the red line station and go back to the drawing board for something even taller.

Though I guess with the McKalla station planned to be constructed ~2022, it still will probably beat this tower.

I was told during my stadium tour (today) that the city is planning on having McKalla station open before the 2022 season opener.

[ATX2030]

Arena Tower inching closer to kickoff

By Parimal M. Rohit – Staff Writer, Austin Business Journal

https://www.bizjournals.com/austin/n...ff-austin.html

Plans to build a 19-story tower next to Q2 Stadium are slowly but surely coming into focus.

Dirt is expected to move at Arena Tower, the 493,000-square-foot office high-rise proposed at 10615 Burnet Road, in either the first or second quarter of 2022.

.....About half of the 19-story high-rise — floors 11-19 — will be dedicated to office space. Floors will range in size from 43,237 square feet to 54,747 square feet, according to Aquila’s most recent marketing materials for Arena Tower.

There will also be space for five retail tenants on the ground floor. The five retail spaces will occupy 25,010 square feet, the largest space taking up 7,260 square feet.

Levels two through 10 will be dedicated to parking. On the 11th floor, a public terrace is planned with collaborative workspaces.

[the Genral]

Curious to know if this tower would be built at that location if there was no Q2 stadium, with a different name of course. Or is the stadium attracting all this new potential construction?

[wwmiv]

Originally Posted by the Genral

Curious to know if this tower would be built at that location if there was no Q2 stadium, with a different name of course. Or is the stadium attracting all this new potential construction?

The tower proposal, iirc, pre-dates any stadium plans or the soccer team entirely.

[Novacek]

Originally Posted by wwmiv

The tower proposal, iirc, pre-dates any stadium plans or the soccer team entirely.

Yep, in fact the developer of this (Capella, my memory is saying) was one of those that made alternative "proposals" for developing the McKalla property.

[The ATX]

A right of way permit filing today indicates that this will get underway the first week of May and continue until the end of 2024.

https://abc.austintexas.gov/public-s...rtyrsn=2012323

[ATX2030]

Kilroy to build 493,000-square-foot tower near The Domain

LA real estate firm to drop at least $40M on site not long after buying Indeed Tower downtown

https://www.bizjournals.com/austin/n...-site-40m.html

Paul Thompson – Assistant Managing Editor, Austin Business Journal
Mar 10, 2022

Kilroy Realty Corp. (NYSE: KRC) is making another splashy acquisition in Austin.

The Los Angeles-based real estate giant announced March 9 it has entered into an agreement to buy a 2.9-acre development site in the Domain submarket in a $40 million off-market transaction. The property is already fully entitled for up to 493,000 square feet of development, Kilroy said.

..."Capella Capital Partners had previously planned to build an office high-rise called Arena Tower at the site, which is located at 10615 Burnet Road — less than a mile from The Domain and just a short walk from Q2 Stadium, where Major League Soccer team Austin FC plays its home games. The tower is expected to be rebranded within the year, but the renderings touted by Kilroy resemble what Capella had planned to build."

[atxsnail]

Originally Posted by ATX2030

Kilroy to build 493,000-square-foot tower near The Domain

LA real estate firm to drop at least $40M on site not long after buying Indeed Tower downtown

https://www.bizjournals.com/austin/n...-site-40m.html

Paul Thompson – Assistant Managing Editor, Austin Business Journal
Mar 10, 2022

Kilroy Realty Corp. (NYSE: KRC) is making another splashy acquisition in Austin.

The Los Angeles-based real estate giant announced March 9 it has entered into an agreement to buy a 2.9-acre development site in the Domain submarket in a $40 million off-market transaction. The property is already fully entitled for up to 493,000 square feet of development, Kilroy said.

..."Capella Capital Partners had previously planned to build an office high-rise called Arena Tower at the site, which is located at 10615 Burnet Road — less than a mile from The Domain and just a short walk from Q2 Stadium, where Major League Soccer team Austin FC plays its home games. The tower is expected to be rebranded within the year, but the renderings touted by Kilroy resemble what Capella had planned to build."

This is probably a good thing and to have been expected, considering Capella's primary focus on self-storage and suburban retail. I had big doubts about their ability to deliver the Arena Tower, though it looks like they made plenty of progress already.

A little off topic, but their proposal for the Q2 site had zero crediblity. Here was one render from their vision:

[Tyrone Shoes]

Originally Posted by ATX2030

Kilroy to build 493,000-square-foot tower near The Domain

LA real estate firm to drop at least $40M on site not long after buying Indeed Tower downtown

https://www.bizjournals.com/austin/n...-site-40m.html

Paul Thompson – Assistant Managing Editor, Austin Business Journal
Mar 10, 2022

Kilroy Realty Corp. (NYSE: KRC) is making another splashy acquisition in Austin.

The Los Angeles-based real estate giant announced March 9 it has entered into an agreement to buy a 2.9-acre development site in the Domain submarket in a $40 million off-market transaction. The property is already fully entitled for up to 493,000 square feet of development, Kilroy said.

..."Capella Capital Partners had previously planned to build an office high-rise called Arena Tower at the site, which is located at 10615 Burnet Road — less than a mile from The Domain and just a short walk from Q2 Stadium, where Major League Soccer team Austin FC plays its home games. The tower is expected to be rebranded within the year, but the renderings touted by Kilroy resemble what Capella had planned to build."

[H2O]

Originally Posted by Tyrone Shoes

Wow you must be old. I mean, I'm old, and my Mom had to explain that reference to me when I was a kid.

[Tyrone Shoes]

Originally Posted by H2O

Wow you must be old. I mean, I'm old, and my Mom had to explain that reference to me when I was a kid.

[agsatx88]

Design Intake for 10615 Burnet Road (which I believe is Arena Tower's adddress) for "1M SF Garage and Office Mixed Use. Retail on level 1". Could the new developers here be going back to the drawing board? Wouldn't this design happen long before site plan approval?

https://abc.austintexas.gov/public-s...ertyrsn=307370

[H2O]

Originally Posted by agsatx88

Design Intake for 10615 Burnet Road (which I believe is Arena Tower's adddress) for "1M SF Garage and Office Mixed Use. Retail on level 1". Could the new developers here be going back to the drawing board? Wouldn't this design happen long before site plan approval?

https://abc.austintexas.gov/public-s...ertyrsn=307370

This is just design consultation for electrical supply. They did this previously, but some things probably changed with the feed after Q2 Stadium started. There were plans to put the overhead electrical on the north property line in a duct bank. Maybe they are now needing to redo part of the electrical feed design.

[agsatx88]

I guess I was thrown off by 1M square feet. Didn't think it was that big.

Also didn't realize it would have ground floor retail. That will be nice so close to the stadium.

[H2O]

Originally Posted by agsatx88

I guess I was thrown off by 1M square feet. Didn't think it was that big.

Also didn't realize it would have ground floor retail. That will be nice so close to the stadium.

No, you're right. It never was anywhere near 1 M sf. I missed that detail. Maybe they do plan on substantially increasing the height. Or, the 1 M might include garage sf.

[StoOgE]

I know that Verde Square is going to have more height to it.

Its possible they are going to push for an upzone here.

[agsatx88]

Another ROW permit filed yesterday (4/5/22) for Arena Tower, this one for overhead pedestrian protection. Start date is 5/2/22. Looks like the change in developer from Capella to Kilroy hasn't derailed the project.

https://abc.austintexas.gov/public-s...rtyrsn=2012323

[We vs us]

Heavy machinery and a whole lot of rebar are on-site today.