The Foundry Breaks Ground in East Austin
DPR Construction signed a lease for 30,000 square feet at the property, where it plans to have its new regional office.
By Anca Gagiuc
Cielo Property Group has broken ground on The Foundry, an office and residential project located half a block away from the MetroRail stop at Plaza Saltillo and adjacent to the Lance Armstrong Bikeway. Independent Bank provided the construction loan.
Sixthriver Architects designed the building, which will feature exposed concrete, decks, warehouse-style columns and reclaimed wood, brick and steel from the original Driskill Hotel laundry facility. A bike maintenance facility and 75 bike parking spaces will be available on site. Of the property’s 17 condo units, 11 are already under contract.
First tenant
General contractor DPR Construction plans to open its new regional office at The Foundry and has already leased 30,000 square feet in the three-story, 76,000-square-foot office portion of the development. The company also serves as the general contractor on Cielo’s 29-story Third + Shoal office tower, currently under construction in downtown Austin.
“We were looking for office space and Cielo was looking for a contractor to build the building as well as a tenant, so it seemed like a perfect opportunity to extend an already successful partnership,” Matt Hoglund, central regional leader with DPR Construction, said in prepared remarks. “The location is ideal for a number of reasons, including providing us with an opportunity to create an environment where our employees will be able to take advantage of green space and other amenities. In addition, the area itself is truly emerging as an entrepreneurial hub that fits in with our core values of enjoyment, uniqueness and ever forward.”
The Foundry is slated to open in March 2019 and aims to earn LEED Gold certification. More so, it will also seek to become one of the first buildings in Austin to earn WELL Certification from the International WELL Building Institute, and even more so, to rank among the first commercial properties in Austin with Net Zero Energy Certification from the International Living Future Institute.
Troy Holme, Casey Ford and Katie Ekstrom of CBRE are the leasing brokers for the property.
Images courtesy of Cielo Property Group
