AUSTIN, TX – Endeavor Real Estate Group and joint venture partner MetLife Investment Management (MIM), MetLife Inc.’s (NYSE: MET) institutional asset management business, have broken ground on a 30-story mixed-use tower in the Rainey Street District.
The Quincy will include: Ground-level retail with separate, dedicated residential and office lobbies. The retail space totals approximately 10,360 square feet and includes one level of below-grade parking. Seven floors of above-grade parking, including an office parking ratio of up to three spaces per 1,000 square feet. Three floors of Class A office space, totaling approximately 77,540 square feet. Features include outdoor terraces with lake views, secured bike storage, a dedicated ground floor lobby separate from the residential tower, and showers on every floor. 19 floors of residential units, with a total of 347 apartment homes for lease. Resort-style amenities designed to take full advantage of the outdoors, including: a lush terrace complete with a pool, firepit, cabanas, observation deck and an exercise lawn. Coupled with a 30th floor indoor/outdoor sky deck overlooking Lady Bird Lake, there will be a dog grooming spa, sports lounge, media room, large co-working space and business center, ample package lockers, as well as a lounge to serve as a waiting area for transportation networking companies like Uber and Lyft.
The Quincy is anticipated to open in the first quarter of 2021, with market analysts noting that the tower will be the first in the Rainey Street district to combine retail, office and residential uses all in one building within that district. The entire building will merit two stars from the Austin Energy Green Building rating system.
“The Rainey Street District has evolved into a thriving, organic, walkable neighborhood full of unique bars, restaurants, hotels and housing adjacent to Lady Bird Lake on the hike and bike trail. The Quincy will weave nicely into the fabric of the neighborhood and establish a new front door to the district,” said Jamil Alam, managing principal for Endeavor.
Kurt Day, managing director, Real Estate, MetLife Investment Management said: “Since first investing in the downtown Austin market more than 30 years ago, we have continued to see the city evolve into an attractive convergence market. This partnership opportunity with Endeavor on The Quincy pulls together many of our favorite traits about mixed-use developments, and we are excited about contributing to the evolution of the Rainey Street district.”
The Quincy’s site on Red River Street is bounded by Driskill Street to the north and Davis Street to the south, where two parking lots presently reside. Nearby, a new Whole Foods Market is slated for Saltillo, another Endeavor project, located between 4th and 5th Streets, along IH-35. Even closer are the Austin Convention Center and two major hotels, Hotel Van Zandt and Fairmont Austin. Some of the region’s hottest restaurants, like El Naranjo, Emmer & Rye, and Iron Works Barbecue, are a short walk away. Additionally, the site offers immediate access to Lady Bird Lake – along with its renown Ann and Roy Butler Hike & Bike Trail.
Ziegler Cooper Architects designed the 360-foot-tall tower, while Kimley Horn is serving as the project’s engineer, Brockette Drake Davis is acting as the structural engineer and Blum Consulting Engineers is acting as the MEP engineer. IBC Bank is the lender on the project and Rogers-O’Brien Construction Company Ltd. has been brought on to serve as general contractor. Endeavor will handle retail and office leasing for the project.