Hines, the Houston-based realty giant that has already made a name for itself in Austin with multiple projects is quietly planning its biggest move yet. It plans to go vertical at The Domain.
The company purchased the La Quinta Inn & Suites located at 11901 North MoPac Expy. Hines filed site plans with the city in recent months and in June to develop the 4.3-acre property into a mixed use property that includes office and multifamily.
The construction schedule was unclear. Hines didn't respond to comments. Site plans submitted to the city may change during the development process. However, they give an insight into one of the biggest real estate developers of Texas.
Site plans indicate that Hines Domain Northside, as it is known in public documents, would reach a height of 196 feet. This could be 15 floors, and it would be only a few feet shorter than Stonelake's Domain Tower 2 at 208 feet.
This height is becoming more common in this area of town. Austin City Council approved in October changes to the development rules of the North Burnet/Gateway Zoning District, which includes The Domain, and the Hines Site. These changes allow for buildings to be up to 420 ft tall, increasing the density.
Hines Domain Northside does not have a square footage, but the site plan indicates 320 residential units. The site plan does not specify if these would be condos or apartments.
Kimley-Horn has been attached as an engineer to the project. Munoz Albin, Kirksey Architecture and Kirksey Architecture have been attached as architects.
Despite the fact that many towers are planned, both residential and office, for North Austin and The Domain in recent months, only a few have begun construction. Economic factors forced developers to either revise or pause plans.
Brandywine’s 66-acre Uptown ATX project is one of only a few vertical projects in the area. The planning stage is still underway for Stonelake's Hollis and Benjamin towers, High Street Residential’s multifamily building at 10711 Burnet Road and Cousins Properties’ Domain Central 1.
Kilroy stopped construction of Stadium Tower, next to Q2 Stadium in October. This left a large hole in the ground.
John Kilroy, Kilroy CEO and Chairman, said on a call with investors held on October 26 that "we intend to delay the construction of Stadium Tower, Austin's development site, until either the economy gives us greater confidence or we prelease a significant portion of the project." He did not mention any benchmarks regarding leasing or the economy for restarting the project.
Wilson Capital, a developer based in Toronto, announced plans to reduce the height of its planned Wilson Tower to 45 stories instead of 80. Taylor Wilson, President of Wilson Capital, cited rising construction costs and interest rates as reasons for the new design.
Endeavor Real Estate Group plans to build a mid-rise office building a few blocks west of Wilson Tower, although due to the changing market, the Austin-based firm is willing and open-minded about other uses.
Residential, office and Industrial Developments