{"id":1004574196,"date":"2022-04-01T11:52:43","date_gmt":"2022-04-01T19:52:43","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004574196"},"modified":"2022-12-08T23:11:49","modified_gmt":"2022-12-09T07:11:49","slug":"carr-properties-jv-to-break-ground-on-austin-tower","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/carr-properties-jv-to-break-ground-on-austin-tower\/","title":{"rendered":"Carr Properties JV to Break Ground on Austin Tower"},"content":{"rendered":"
\"Block<\/a>

Block 16. Rendering courtesy of Gensler<\/p><\/div>\n

After entering the Austin, Texas, market last year with a 420,000-square-foot office purchase<\/a>, Carr Properties<\/strong> has teamed up with Manifold Development<\/strong> to build its first project in the city. The developers announced plans for Block 16, a 738,000-square-foot office tower in the CBD.<\/p>\n

The partnership has selected CBRE <\/strong>to market the property. The Gensler-<\/strong>designed tower will take shape at 201 San Jacinto Blvd., on half a city block. The 43-story high-rise is expected to come online in the spring of 2026.<\/p>\n

Block 16 will feature a fitness center along with several meeting spaces, among other amenities. The office tower aims to provide a nearly column-free workspace with 10-foot ceiling heights and floor-to-ceiling windows. Sustainability, wellness and indoor air quality are top priorities in the project\u2019s design.<\/p>\n

Office projects across downtown Austin<\/h2>\n
\"Block<\/a>

Block 16. Rendering courtesy of Gensler<\/p><\/div>\n

Austin remains among the nation\u2019s leading cities for office construction activity relative to existing stock. As of February, the metro had more than 10.1 million square feet of office space underway, representing 11.6 percent of total inventory. The figure is more than five times higher than the national average of 2.2 percent, according to CommercialEdge data.<\/p>\n

As of mid-March, Austin\u2019s CBD had 30 office developments, either underway or in the planning stages, totaling 13.5 million square feet, the same data provider reported. A few blocks away from Block 16, Cielo Property Group expects to break ground on Perennial<\/a>, a 46-story tower totaling 750,000 square feet. The Perkins & Will-designed high-rise is anticipated to come online in 2025. Work is also underway on 321 West<\/a>, a 58-story mixed-use project by Tishman Speyer and Ryan Cos.<\/p>\n

According to the Austin American-Statesman, <\/em>downtown Austin will soon host the city\u2019s and potentially the state\u2019s tallest tower. A joint venture between Lincoln Property Co.<\/strong> and Kairoi Residential<\/strong> are planning to break ground on the more than 1,000-foot high-rise at 98 Red River St. The 74-story tower will include 686,000 square feet of office space, 352 residential units, as well as a 251-key hospitality component.<\/p>\n","protected":false},"excerpt":{"rendered":"

Designed by Gensler, Block 16 marks the company\u2019s first development in the city. <\/p>\n","protected":false},"author":1763,"featured_media":1004574199,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1578,21782,21808,21742,21747],"tags":[33447,32789,33012],"class_list":["post-1004574196","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-austin","category-development","category-featured","category-latest","category-office","tag-carr-properties","tag-cbre","tag-gensler"],"acf":[],"yoast_head":"\nCarr Properties JV to Break Ground on Austin Tower - CPE<\/title>\n<meta name=\"description\" content=\"The Gensler-designed Block 16 by Carr Properties and Manifold Development will take shape in downtown Austin, Texas, marketed by CBRE.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/carr-properties-jv-to-break-ground-on-austin-tower\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Carr Properties JV to Break Ground on Austin Tower\" \/>\n<meta property=\"og:description\" content=\"The Gensler-designed Block 16 by Carr Properties and Manifold Development will take shape in downtown Austin, Texas, marketed by CBRE.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/carr-properties-jv-to-break-ground-on-austin-tower\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-01T19:52:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T07:11:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/04\/Block-16-Image-Gensler-e1648807098858.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"984\" \/>\n\t<meta property=\"og:image:height\" content=\"737\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Agota Felhazi\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/carr-properties-jv-to-break-ground-on-austin-tower\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/carr-properties-jv-to-break-ground-on-austin-tower\/\",\"name\":\"Carr Properties JV to Break Ground on Austin Tower - CPE\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/carr-properties-jv-to-break-ground-on-austin-tower\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/carr-properties-jv-to-break-ground-on-austin-tower\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/04\/Block-16-Image-Gensler-e1648807098858.jpg\",\"datePublished\":\"2022-04-01T19:52:43+00:00\",\"dateModified\":\"2022-12-09T07:11:49+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/bd1ef74130b86a7c6013eaa04b08b28d\"},\"description\":\"The Gensler-designed Block 16 by Carr Properties and Manifold Development will take shape in downtown Austin, Texas, marketed by CBRE.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/carr-properties-jv-to-break-ground-on-austin-tower\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/carr-properties-jv-to-break-ground-on-austin-tower\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/carr-properties-jv-to-break-ground-on-austin-tower\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/04\/Block-16-Image-Gensler-e1648807098858.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/04\/Block-16-Image-Gensler-e1648807098858.jpg\",\"width\":984,\"height\":737,\"caption\":\"Block 16. 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