(AUSTIN) – Hines, the international real estate firm, today announced the start of construction on T3 Eastside, a heavy timber office and boutique residential building with 15 loft-style units in Austin’s most eclectic eastside neighborhood. This construction milestone marks the first of many for Hines in Austin as the firm expands their footprint in the market with more announcements to come. Additional projects under development include The Mirador, Four Seasons Private Residences Lake Austin, Lakeside at Tessera on Lake Travis, Residences at Wolf Lake and The Retreat at Easton Park.
Located at 1200 East 4th Street, a dynamic and highly walkable 24/7 dine-shop-live-work neighborhood community, T3 Eastside will consist of 93,000 square feet of Class-A office and 9,200 square feet of residential space. The complete project structure will be constructed using sustainably sourced wood, a first for Hines in the residential space. T3 (timber, transit, and technology) is a Hines proprietary mass timber creative product, developed in response to evolving tenant requirements.
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.
“We are thrilled to kick off construction on this innovative office and residential offering in one of Austin’s most sought-after neighborhoods,” said Philip Croker, senior managing director at Hines and co-Austin city head. “Complemented with its advanced technology, unparalleled amenities and focus on renewability, every aspect of the building is meticulously designed to inspire creativity, attract talent, promote productivity and honor the unique spirit of Austin’s Eastside neighborhood.”
Upon completion, T3 Eastside will provide best-in-class office and residential space that is fully future-proofed for modern teams and residents. Common amenities include social work and collaboration spaces; a rooftop patio with expansive city views; private tenant outdoor balconies; shared conference space; a premium fitness center and 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.
“T3 Eastside is Hines’ first Class-A timber project with a residential component, and we are excited to introduce this unique product to the booming Austin market,” said John Mooz, senior managing director and Austin city head at Hines. “With ambitious plans and a robust pipeline already in place, I look forward to increasing Hines' presence across the city.”
Hines assembled a stellar design team for the project including DLR Group, design architect and interior designer of common areas; TBG, landscape architect; and Harvey Cleary, general contractor. Amegy is providing construction and financing, and JLL will be handling leasing for the building. For more information, please visit http://www.t3eastside.com.
About Hines
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.
