First the Hotel Boom… now the Office Boom?
Details are emerging about yet another high-rise office building downtown. Lincoln Property Company is developing a new office tower at the southwest corner of 5th Street and Colorado Street in the Warehouse District. This site was once proposed as a hotel when it was cleared in 2010. Food trailers currently occupy the vacant lot.
According to an article in the ABJ, the tower is being designed by Dallas-based HKS and will be anywhere from 16 to 20 stories once the design is complete. According to a marketing video, the proposed building will be environmentally friendly (LEED and AEGB), with limestone accents in the lobby along with local artwork and a “stunning video display wall”. Check out the screencaps from the video below:
After the Frost Bank Tower was completed in 2003, downtown Austin hadn’t seen much (if any) downtown office development until last year when both the IBC Bank Plaza (200,000 SF) and Colorado Tower (373,000 SF) broke ground. Both of those projects are set to open by the end of 2014, and a Trammel Crow office tower is rumored for Block 23 as part of the Greenwater redevelopment.
What do you think of the proposed office tower? Can downtown Austin absorb all of this new office inventory? Be sure to leave your comments below.