As the economy continues to grow and more jobs are created in Austin, demand for downtown office space is also on the rise. To meet the growing demand, developers are building, buying, and remodeling office space downtown.
The vacant building at 501 Congress is undergoing a $30 million makeover. According to a report in the Statesman, the building will be remodeled into a “contemporary five-story building with 112,000 square feet of first-class office space and a rooftop deck.”
Stream Realty purchased the property earlier this year as part of a larger deal involving several adjacent buildings and parcels. In the rendering above, you can also see an 8-story parking garage that will be built once the existing garage is demolished. Michael Hsu and Sixthriver are the architects for the project.
Construction began this month and will complete in 2014.