Austin | The Republic | 710 Feet | 47 Floors | U/C

[Geckos_Rule]

Originally Posted by The ATX

I'm a little worried about this project not living up to the full height potential for the site. The site plan said mixed use but had office and retail listed as the uses. There was no mention of residential or hotel, but that can't be excluded at this point based on the single filing. Retail would of course be ground floor, and I don't think there is enough office space demand for a 700' to 900' office tower in addition to 600 Guadalupe and Block 71. I really hope this site doesn't become another one of those mediocre 400 footers.

I'm not sure I agree. If only because I think if three large office buildings (third+shoal; block 71, and the parsley building) can be completely pre-leased before being completed (or even beginning construction) then there seems like plenty of demand to fill a few more.

[The ATX]

Originally Posted by Geckos_Rule

I'm not sure I agree. If only because I think if three large office buildings (third+shoal; block 71, and the parsley building) can be completely pre-leased before being completed (or even beginning construction) then there seems like plenty of demand to fill a few more.

All floors are listed as being available for lease for Block 71 on CBRE. The Indeed pre-lease rumor appears to be just that. But one thing thing that gives me hope is the fact that Lincoln is behind this project and 600 Guadalupe. It doesn't seem like they would be moving forward with two large office towers at the same time unless they know something about the office market that hasn't been made public.

[We vs us]

Originally Posted by The ATX

All floors are listed as being available for lease for Block 71 on CBRE. The Indeed pre-lease rumor appears to be just that. But one thing thing that gives me hope is the fact that Lincoln is behind this project and 600 Guadalupe. It doesn't seem like they would be moving forward with two large office towers at the same time unless they know something about the office market that hasn't been made public.

I've been thinking about this, too. The DT office market keeps topping itself for price and occupancy levels, but I don't necessarily understand the mechanics of financing . . . so not sure if straightforward demand signals like that directly equal more construction.

Does Austin's market warrant building new office space even without pre-commitments?

EDIT: of course, the other thing that baffles me about our market is how, even with those record occupancies and rates -- which would seem to encourage us to build higher (and fight the FAA ceiling) -- we can't seem to crest that 400' plateau.

[freerover]

Originally Posted by We vs us

EDIT: of course, the other thing that baffles me about our market is how, even with those record occupancies and rates -- which would seem to encourage us to build higher (and fight the FAA ceiling) -- we can't seem to crest that 400' plateau.

Building higher also means needing bigger lots but DT seems to have been split up quite a bit. You're not going to get much taller on a quarter lot than that 400 range for office and I imagine it makes more financial sense to try and go at a quarter lot alone than try to combine with a different quarter lot. You're not going to double your return by halving your investment.

[deerhoof]

For what it's worth to the conversation, my company is losing it's space DT because the owner of the building needs the space back due to their growth and we can't find anything downtown in the time frame we need which is by middle of 2019 and the space range we need which is 75K to 100K square feet. Seems like DT is lacking office space for bigger tenants which could indicate the need to build all of these buildings at the same time.

[Jdawgboy]

Then it definitely indicates that Downtown has reached the next threshold for office space and we'll probably be seeing office take a much bigger portion with new projects than we seen.

[The ATX]

Towers' has their usual good project summary and a history of the site:

https://austin.towers.net/republic-t...308-guadalupe/

[Max Tower]

Here's a second unused Gensler design for the block. Would have liked to see this one.


Chasing the Ghosts of Towers Past at Downtown Austin’s 308 Guadalupe Site

[We vs us]

That cantilevered portion, especially, would've been awesome.

[clubtokyo]

That would have been amazing!

[Jdawgboy]

Now that's a Gensler design I dig. The only suggestion would be to make it even taller with another 10-20 floors.

[AustinGoesVertical]

This is a very cool design. It kind of drives home the point that the onus can often be taken off the architect. If you want to blame someone for the massive blank wall on Third + Shoal, blame the developer Cielo, who is an Austin based developer, who clearly doesn’t give a crap about downtown - hence they didn’t seem to care about getting cheap with the section facing the creek or being conscious of the detrimental effects of perpetuating the trend of incorporating a significant parking mix into each project. Which I still think with the footprint of this site and the 13 or so levels of parking, it’s going to be a nightmare to navigate through that.

[Sigaven]

I really hope it's all underground parking for whatever is built here. Being next to Republic Square it's too important of a place in the city to have 6 stories of lifeless parking facing it.

[austin242]

Agreed!

[The ATX]

Originally Posted by Sigaven

I really hope it's all underground parking for whatever is built here. Being next to Republic Square it's too important of a place in the city to have 6 stories of lifeless parking facing it.

Underground parking is typically 5 levels at best. So the trade off for no above ground parking would be a small tower or mid-rise instead of a signature tower. But I would really be surprised if the developers didn't want a connection to the park. Retail and sidewalk cafes facing the park would be awesome.

[Sigaven]

Originally Posted by The ATX

Underground parking is typically 5 levels at best. So the trade off for no above ground parking would be a small tower or mid-rise instead of a signature tower. But I would really be surprised if the developers didn't want a connection to the park. Retail and sidewalk cafes facing the park would be awesome.

Since we have a massive hulking 12 story parking garage going up just a few blocks east at 4th and colorado, surely that can be enough to offset whatever parking is not included above ground at Republic Tower....

[Jdawgboy]

Originally Posted by Sigaven

Since we have a massive hulking 12 story parking garage going up just a few blocks east at 4th and colorado, surely that can be enough to offset whatever parking is not included above ground at Republic Tower....

No kidding, might as well..

[KevinFromTexas]

The site plan was posted to the AULCC page, but there aren't any elevations shown.

It does say that Duda/Paine is the architect. Duda/Paine also designed the Frost Bank Tower.

ftp://ftp.ci.austin.tx.us/ATD_AULCC/...St_PLAN_01.pdf

Some details. This is saying it's all office with retail and restaurant space. It also mentions a public plaza.

It also says it'll have 600,000 square feet of office space, but it says the "building fire area" is 1,423,600 square feet.

PROJECT SUMMARY:
THIS PROJECT CONSIST OF 1.7729 AC WITH THE CONSTRUCTION OF A HIGH RISE OFFICE BUILDING WITH RETAIL AND RESTAURANT ON THE
1ST FLOOR, ASSOCIATED PARKING GARAGE, UTILITY IMPROVEMENTS, AND RECREATIONAL PLAZA. THE PROJECT WILL COMPLY WITH THE
DOWNTOWN DENSITY BONUS AND GREAT STREET REQUIREMENTS.

[wwmiv]

One of my favorite buildings by Duda/Paine is the First Citizens Bank Headquarters in Columbia, SC. I lived a few blocks down Main Street in a loft for three years, and it was my favorite building downtown by far.

[StoOgE]

I mean, they also made 405 Colorado.... sooo