(AUSTIN, TEXAS) – Hines, the international real estate firm, today announced that the firm’s timber office concept, T3 (timber, transit and technology) will be coming to Austin’s most eclectic eastside neighborhood. Deemed T3 Eastside, the project will feature a heavy timber office that will redefine the standard for the modern, creative office space, as well as a boutique residential experience featuring 15 loft-style units. The complete project structure will be constructed using sustainably sourced wood, a first for Hines in the residential space. This is the first of several projects coming to the Austin market for Hines, with active prospects in the office, multi-family, senior living, life sciences, and student housing arenas.
This Class-A, mass timber office and residential building will consist of 92,000 square feet of office and 9,200 square feet of residential space that will inspire creativity, attract talent, promote productivity and honor the unique spirit of Austin’s Eastside neighborhood. The project is located at 1200 East 4th Street, a dynamic and highly walkable 24/7 dine-shop-live-work neighborhood community. Many local food and beverage, grocery and live music favorites are just steps away including Hopdoddy Burger Bar, Juiceland, Dolce Neve Gelato, The Historic Scoot Inn, Cosmic Coffee, Native Hostel and Whole Foods. The project will benefit from superior accessibility to the expanded rail service and interstate roads that connect to all the arts and cultural destinations in Downtown Austin.
Built from heavy timber, T3 Eastside will modernize the historical industrial design of mercantile warehouse buildings, designed specifically to be responsive to the evolving ESG requirements across the commercial real estate industry and to the health and wellness needs of its occupants in a post-COVID environment. Complemented with advanced technology, unparalleled amenities and renewability, this space will be an ideal environment for tenants in creative industries such as technology, advertising, media, information and biotechnology/life sciences and residents looking to live in the heart of Austin.
“Hines is excited to bring our T3 brand to Austin,” said Philip Croker, senior managing director at Hines and co-Austin city head. “T3 Eastside is designed to accommodate occupier needs of firms who seek creative class workers and residents by delivering a unique product and location while offering proximity to living, dining, entertainment and easy access to transit while honoring the unique artistic spirit of the neighborhood.”
T3 is a Hines proprietary mass timber creative product, developed in response to evolving tenant requirements. Timber is not only 100% renewable, recyclable and non-toxic, it is also known to have productivity and wellness benefits. Upon completion, the building will provide best-in-class office and residential space that is fully future-proofed for modern teams and residents. Common amenities will include social work and collaboration spaces; a rooftop patio with incredible views; private tenant outdoor balconies; shared conference space; a premium fitness center with a yoga studio, secured bike storage and end-of-trip facilities; and enhanced Wi-Fi connectivity throughout. Additionally, the building’s systems are technology-rich, minimizing physical building touch points and complete with the latest HVAC systems for superior indoor air quality and air filtration systems, all aimed at elevating the standards for space in a post-COVID world.
“Hines is a strong believer in Austin’s economy, talented workforce, cost effectiveness and quality of living, and the world’s most innovative companies have recognized this and will look for office buildings that match their unique culture and standards,” said John Mooz, senior managing director and Austin city head at Hines. “T3 Eastside will allow Hines, to deliver a best-in-class building to meet the future needs of these companies and help them attract and retain the best talent in the marketplace.”
T3 Eastside will be Hines’ first office project in Austin, Texas in over four decades. “Hines has over 64 years of experience in Texas, and we look forward to growing our presence in Austin with several projects that will be announced in the coming months covering multiple product types,” added Mooz.
JLL will be handling leasing for the building. For more information, please visit http://www.t3eastside.com.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 240 cities in 27 countries. Hines oversees a portfolio of assets under management valued at approximately $160.9 billion¹, including $81.7 billion in assets under management for which Hines serves as investment manager, and $79.2 billion representing more than 172.9 million square feet of assets for which Hines provides third-party property-level services. Historically, Hines has developed, redeveloped or acquired approximately 1,450 properties, totaling over 485 million square feet. The firm has more than 180 developments currently underway around the world. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to ESG, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information. ¹Includes both the global Hines organization as well as RIA AUM as of December 31, 2020.