Austin | Stadium Tower | 264 Feet | 19 Floors | On Hold - Page 5

ATX2030 · #1 Posted **Mar 11, 2022, 12:23 AM**

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 · #2 Posted **Mar 11, 2022, 2:24 PM**

Quote:

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 · #3 Posted **Mar 11, 2022, 2:51 PM**

Quote:

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 · #4 Posted **Mar 11, 2022, 7:03 PM**

Quote:

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 · #5 Posted **Mar 11, 2022, 7:31 PM**

Quote:

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 · #6 Posted **Mar 29, 2022, 5:49 PM**

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 · #7 Posted **Mar 29, 2022, 5:56 PM**

Quote:

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 · #8 Posted **Mar 29, 2022, 5:58 PM**

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 · #9 Posted **Mar 29, 2022, 6:02 PM**

Quote:

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 · #10 Posted **Mar 29, 2022, 8:19 PM**

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 · #11 Posted **Apr 6, 2022, 1:33 PM**

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 · #12 Posted **May 19, 2022, 11:42 PM**

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

mtb_jeremy · #13 Posted **May 23, 2022, 4:49 PM**

They are actively excavating and removing material today. The north side along Discount Tire and the storage facility is dug out and there are 18-wheelers getting loaded with dirt for removal.