With an increasing population, new developments are a necessity. What’s coming to the North Austin area? Here’s a look at two new developments:
The Broadmoor Expansion
Photo Courtesy: Austin CultureMap
A new massive development is in the works for a 66-acre site near the Domain. In fact, the site is expected to add more than one million square feet of offices, as well as shops, restaurants, apartments, condos and a hotel.
The site already has 1.1 million square feet of offices – anchored by IBM. But, the owner and real estate developer, Brandywine Realty Trust, is seeking approval from the City of Austin to expand the campus. If approved, the amount of office space will double, and the expansion, named Broadmoor, will also include the following:
- 2,092 apartments
- 150 condos
- 98,462 square feet of retail
- 40,000 square feet of restaurant space
- 300 hotel rooms
The development may also be a stop along the MetroRail – if the relocation of the station on Kramer Lane is moved to the Broadmoor campus.
As of now, Brandywine doesn’t expect the Broadmoor expansion to be complete until 2036. However, the deadline may change if Amazon chooses the campus for its second headquarters.
For additional details, click here.
Sports Retail Center Coming to Cedar Park
Photo Courtesy: iSports Real Estate Development LLC
iSports Real Estate Development LLC has plans to build a multispecialty sports center on a 15-acre lot at the southeast corner of U.S. Highway 183A toll road and Scottsdale Drive in Cedar Park. The 157,000-square-foot development named the iSports Training and Performance Center is expected to break ground as early as this fall and will feature numerous sports tenants, sports medicine, entertainment, retail and restaurants.
The most noteworthy tenant is Chaparral Ice, an ice rink operator slated to build two National Hockey League ice rinks for public skating, hockey games, figure skating and curling. The Texas Stars and the University of Texas at Austin’s hockey team have already announced plans to make the new iSports facility their practice rink. Chaparral Ice will also operate the indoor and outdoor turf fields for soccer and football.
For additional information on the new sports retail center, click here.
Have questions about either of these new North Austin developments? Give me a call. I would be happy to discuss how they impact the real estate market.