Posted Apr 24, 2013, 11:16 PM
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Join Date: Aug 2009
Location: The ATX
Posts: 3,317
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13-story office project breaks ground in downtown Austin
Quote:
By Shonda Novak American-Statesman Staff
April, 24, 2013
In the first new office tower to break ground in downtown Austin in more than a decade, construction started Wednesday on the 13-story IBC Bank Plaza, the bank’s president told the American-Statesman exclusively.
The tower at 500 West Fifth St. will house the local headquarters for IBC Bank - Austin and other tenants. It is scheduled to open in spring 2014, bringing about 195,000 square feet of new space to the downtown market, where occupancies and rents have been on the rise amid healthy ongoing demand.
“It’s been a long drought for the central business district, and hopefully this will initiate further development in downtown, said Bob Barnes, president and CEO of IBC Bank-Austin. IBC will be the owner and lead tenant in the building, occupying about 27,000 square feet.
IBC Austin currently occupies about 15,000 square feet in the 816 Congress tower, and will make the move to its new headquarters in late 2014, Barnes said.
“With the rapid growth of the downtown area, we believe IBC Bank Plaza will be an important addition to the city, providing office and retail space in one of the most coveted areas of town,” Barnes said.
Austin-based Endeavor Real Estate Group is developing the project. It will include retail space, a parking garage and balconies overlooking Republic Park, with Capitol views from upper floors.
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http://www.statesman.com/news/busine...wntown-/nXW8d/
We can add this now to the on going list.
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