By Adina Marcut
Austin, Texas—Stonelake Capital Partners and HPI Real Estate Services & Investments announced they have broken ground on Domain Tower, an 11-story, 310,000-square-foot, Class-A office building located at the entrance to The Domain at 10721 Domain Drive. J.P. Morgan is the construction lender for Domain Tower which is scheduled for completion in early 2018.
The new office building will accommodate companies with requirements ranging from 30,000 square feet to 310,000 square feet of contiguous space featuring floor-to-ceiling glass and a state-of-the-art design by BOKA Powell. Domain Tower will provide features such as a tenant lounge and conference areas which open onto a landscaped exterior terrace for tenants to work outdoors, a designed food truck area, a parking garage with sky-walk access, shuttle service throughout The Domain and an on-site concierge.
“Domain Tower, like Austin, is a study in contrasts … the building was designed from the inside out, with a desire to blur the line between interior and exterior. It projects a modern, dynamic, aspirational and forward-thinking vibe, while staying grounded by and deeply respectful of its natural environment,” John Orfield, principal of BOKA Powell LLC, said in a statement.
Stonelake acquired 31 acres at the entrance to The Domain in 2011. Domain Tower is the first phase of Stonelake’s development plans within The Domain. In total, Stonelake plans to add 3.5 million square feet of new office, multifamily and retail over the next decade with plans for a hotel, grocer, park and restaurants. Stonelake’s next phase will be Flatiron Domain, a five-story, 372-unit, Class-A multifamily property, which will break ground in 2017.
Image courtesy of Stonelake Capital Partners