In another project that is changing the skyline for Austin, a Minnesota-based developer is planning to build a 60-story tower with nearly 400 apartments and office space on West Sixth and Guadalupe Streets in downtown.
Ryan Companies US Inc., along with Page, an Austin architectural firm, and BBVA USA announced plans for the project on Thursday. The Austin Business Journal first reported on the proposed tower, citing a site plan application filed with the city on Nov. 13.
The proposed skyscraper would rise over 770 feet on the 300 block of West Sixth Street. The tower would replace the Maiko Sushi Lounge at 311 W. Sixth St. and a branch of BBVA Bank at 321 W. Sixth St.. The BBVA will have a retail branch in the building and will have its name on the tower.
Ryan executives said the company expects to submit its plans to Austin City Council this month. Ryan hopes to begin construction on the 530,371-square-foot tower in the fourth quarter of 2020 and complete the project in mid-2023, Hunter Barrier, South Central President of Ryan Companies, told the American statesman via email.
Ryan Companies did not disclose any estimated costs for the project or comment on funding.
If the tower were built, it would become the second tallest building in Austin after a 66-story mixed-use skyscraper being built nearby called 6 X Guadalupe. The 66-story tower, developed by San Antonio’s Kairoi Residential and Lincoln Property Co. on what was previously an extended stay hotel, will include 349 apartments and nearly 590,000 square feet of office and retail space.
The tallest completed building on today’s skyline is the 58-story Independent, a condominium tower nicknamed the “Jenga Tower” for its distinctive staggered design.
“It is very exciting for the Ryan team to partner with BBVA in the major redevelopment of a unique corner of downtown Austin,” Barrier said in a written statement. “The mixed-use product that keeps BBVA Bank’s presence intact fulfills an important need for living, working and playing in the city center.”
A 3,000 square meter clubhouse will be built on the top floor. According to the company, the lower clubhouse levels will include a pool terrace, indoor and outdoor fitness areas, assembly and meeting rooms, a media room, a zoo and changing rooms.
The building will have 363 apartments, which will be located on floors 20 to 60. The company said 75 percent will be studio and one-bedroom units, with the remainder proposed as two- and three-bedroom units.
“The apartment component of the project is designed to meet the demand for downtown employment expansion,” said Barrier. “We’re optimistic that downtown Austin will continue to attract technology, finance, healthcare, and other business expansions.”
Elsewhere in the tower, Levels 12-17 will have 120,000 square feet of office space, and the remaining floors will have parking and retail space.
The office space is designed to attract mid-sized tenants who are “interested in a great location with a more exclusive boutique office environment,” said Barrier.
BBVA’s ground floor lobby will reflect the company’s focus on digital transformation in banking, said Jon Rebello, CEO of BBVA in Austin. In addition to its retail branch in the new tower, the bank will occupy one floor of office space, Barrier said.
“BBVA’s mission to create opportunity and its commitment to the places it is home are an expression of this project,” Rebello said in a statement. “Austin, with its innovative business and economic landscape, is a key market for the bank. Our involvement in this landmark project will improve our ability to serve our Austin customers.”
BBVA is currently conducting business operations on the premises and expects to continue operations in a new 4,000 square meter bank branch in the new tower.
Talmadge Smith, Design Principal at Page, said the project is an example of “smart, dense and ambitious development” that “will serve as a template for future downtown projects”.