Seen as the center of North Austin’s fast-paced growth, 16 new city blocks near The Domain are the vision for Austin’s “Uptown.” Spearheaded by Brandywine Realty Trust, when completed, 11501 Burnet Road will include a massive oasis of parks, 23 miles of trails, high-end retail, restaurants, and entertainment venues, sprinkled with modern offices and apartments.
Although figures could change, initial estimates listed in the city’s analysis of traffic impact indicate that the project could include 3.2 million square feet of office space, 300 hotel rooms, 98,462 square feet of retail, 40,000 square feet for restaurants, 2,092 apartments, and 150 condos or townhomes.
Seen as a catalyst to possibly curb rapidly rising traffic and housing costs across the city, the project is dependent on its connection to a re-tooled light-rail system. A recent Austin City Council vote paved the way for density bonuses that would allow buildings more than 30 stories tall. However, those bonuses rely on when and if the Red Line train station on Kramer Lane is relocated to the Broadmoor campus. At this time, funding for the $15 million rail project is unclear, although some predict at least half of the funding will come from the private sector. Ultimately, the timing of the train station funding and relocation is vital because it impacts when and how Brandywine can move forward with its “Uptown.”
Broadmoor encompasses approximately 1.1 million square feet across seven buildings. However, at full build-out, the development could span 6 million square feet. Although Brandywine declined to comment on whether there’s something afoot with Amazon, it’s hard to imagine that this massive development isn’t on the radar for HQ2. An announcement of that sort would impact the area tremendously.
Regardless of other factors, Brandywine hopes to have the first phase of new buildings permitted and underway in 2019. Expect to witness new buildings popping up first by Burnet Road in the areas that are currently parking lots. Full development is expected to take between five to 15 years.
Image credit: Shimahara Illustration
Additional source: Austin Business Journal