Domain/North Austin Development Updates

[Syndic]

x-posting from the World Class Capital Group thread. Could be a big redevelopment opportunity if Karlin can wrest control from douchelord Nate Paul.

Originally Posted by kingkirbythe....

Feud over Offices at Braker in N. Austin gets more complex with another bankruptcy filing

Nate Paul's World Class wrestles with Karlin Real Estate for control of 45-acre site

https://www.bizjournals.com/austin/n...ankruptcy.html

A sprawling North Austin office park nearly changed hands on Sept. 29 — but a last-minute Chapter 11 bankruptcy filing prevented an auction.

Embattled real estate investor Nate Paul filed for the Chapter 11 bankruptcy protection on behalf of an affiliated company called WC Braker Portfolio B LLC. It's the second shell company tied to Offices at Braker to file bankruptcy; a related entity called WC Braker Portfolio LLC filed in May for Chapter 11 protection.

WC Braker Portfolio owns Offices at Braker, while WC Braker Portfolio B owns a 100% interest in WC Braker Portfolio.

In effect, the bankruptcy filing prevented Los Angeles-based Karlin Real Estate LLC from seizing control of Offices at Braker, a 45-acre business park with 546,823 rentable square feet. Karlin owns the debt tied to the real estate, which is valued for tax purposes at roughly $163 million, according to Travis Central Appraisal District. But it’s possible the properties could fetch even more on the open market.

The site isn't far from Austin's second downtown, The Domain, where many low-rise buildings are being turned into high-rises.

[Urbannizer]

Originally Posted by atxsnail

Toll Brothers Apartment Living wants to construct a 23-27 story apartment building at the location of the former Precision Tune Auto Care and Mosing Motorcars at 2500-2420 W Braker Ln.

https://abc.austintexas.gov/public-s...ertyrsn=150773

Per the filing, it's 331 units w/ 350-400 parking spaces.

306’ with an early 2024 start.

https://oeaaa.faa.gov/oeaaa/external...56817495&row=5

[kingkirbythe....]

What does the future hold for The Domain? Cousins' Tim Hendricks opens up about its 'last wave of development'

https://www.bizjournals.com/austin/n...of-domain.html

Tim Hendricks has seen and done it all in Austin’s thriving real estate market.

The senior vice president and managing director at Cousins Properties Inc. has been leading the company’s efforts in Austin for about 30 years, and in that time has developed a little more than 5 million square feet of space in the city. That portfolio includes impressive projects such as Frost Bank Tower, 300 Colorado and many of the office towers in The Domain.

Despite being a part of all of that development, Hendricks is still surprised by what the city has evolved into today compared to when he moved here in 1975.

"I never, never envisioned quite what we are experiencing in Central Texas today," Hendricks said.

A big part of that experience is the continued transformation of The Domain — a one-time IBM campus that has been turned into a mixed-use hub that rivals the Central Business District in terms of density and commercial concentration.

For our latest ATX Next podcast, Austin Business Journal spoke with Hendricks about the different factors that helped The Domain and the surrounding area successfully undergo that transformation in a short two decades as well as what the future might hold for the urban center. Listen to the entire conversation in the player at the top of this story, or wherever you get podcasts. Below are a few highlights from the interview, edited slightly for clarity.

[gillynova]

[KevinFromTexas]

Originally Posted by agsatx88

Site plan filed for "Domain Block C Office" with an address of 11711 Domain Blvd. Current land use states Garage with future use as Office/Retail. Anyone know anything about this. Plugging that address into Google Maps doesn't make it immediately obvious what is getting re-developed.

https://abc.austintexas.gov/public-s...rtyrsn=3334480

FAA permit for this says 320 feet.

https://oeaaa.faa.gov/oeaaa/external...58438073&row=5

[The ATX]

The FAA coordinates map the Domain C office tower to this location on Palm Way which does make sense:

[Novacek]

Originally Posted by The ATX

The FAA coordinates map the Domain C office tower to this location on Palm Way which does make sense:

I'm guessing the new building is going in alongside the garage, not replacing it? I don't think we're quite to the point yet where they're tearing down stuff they put up just a few years ago. Though at some point you've got to think that's going to start, starting with the oldest section of the domain (now over 15 years old).

[The ATX]

Originally Posted by Novacek

I'm guessing the new building is going in alongside the garage, not replacing it? I don't think we're quite to the point yet where they're tearing down stuff they put up just a few years ago. Though at some point you've got to think that's going to start, starting with the oldest section of the domain (now over 15 years old).

That makes the most sense to me. It's just that the site plan lists the current use of the site as "Parking Garage."

[Urbannizer]

Do we have a list of high-rises proposed for this area?

[drummer]

Originally Posted by The ATX

That guy really didn't want to be seen on Streetview.

[ILUVSAT]

Is "Domain C" the same as "Domain Tower IV?"

I'm so confused with all the buildings going up around there.

I second the motion for a list specific to this area of Austin (north of 183, south of Parmer, east of MoPac, west of Metric).

[Urbannizer]

Originally Posted by ILUVSAT

Is "Domain C" the same as "Domain Tower IV?"

I'm so confused with all the buildings going up around there.

I second the motion for a list specific to this area of Austin (north of 183, south of Parmer, east of MoPac, west of Metric).

The ATX posted this on twitter, guess he forgot to share here.

[The ATX]

That already needs an update for the Stadium Tower going on hold.

[wwmiv]

Originally Posted by The ATX

That already needs an update for the Stadium Tower going on hold.

That went on hold? We have an on hold building? That’s shocking for Austin.

[gillynova]

[KevinFromTexas]

FAA permit for "Burnet Residences" - 243 feet. This is for the 7-Eleven at Burnet Road and Brockton Drive.

https://oeaaa.faa.gov/oeaaa/external...9491175&row=15

[agsatx88]

I think this is for 10711 Burnet next door to the 7-Eleven.

Originally Posted by KevinFromTexas

FAA permit for "Burnet Residences" - 243 feet. This is for the 7-Eleven at Burnet Road and Brockton Drive.

https://oeaaa.faa.gov/oeaaa/external...9491175&row=15

[agsatx88]

Site plan filed for MF residential at 3124 1/2 Gracie Kiltz Lane in the Domain going by the name of "The Benjamin". Could this be the twin to The Bowen that was shown on plan drawings of Domain Southside years back? No info on height that I could find.

https://abc.austintexas.gov/public-s...rtyrsn=6094721

Edit: Engineers on this application are the same used for the Bowen back in 2018 (Pape-Dawson Engineers).

[gillynova]

[The ATX]

New elevations are out for the Domain Central office tower 1. It lost a couple floors since the last elevations were released. It's now 26 floors and 370'.




https://abc.austintexas.gov/public-s...rtyrsn=3334541