Trammell Crow Company (TCC) and High Street Residential (HSR), its residential subsidiary, have announced plans for a 280,000-square-foot mixed-use development in Austin, Texas. The project, known as The Block Yard, is located at 2900 East Martin Luther King Jr. Boulevard and will include 302 residential apartments and approximately 68,000 square feet of office and retail space. Construction is slated to begin in June 2020. The office component is expected to be completed in July 2021, while the residential component will open in January 2022.
The multifamily component of the transit-oriented development is being developed by High Street Residential and will include a mix of market-rate and affordable for-rent residences featuring modern and functional interior finishes. Residents of the East Austin property will have access to an extensive amenity collection, including a shared fitness and conference center, a hospitality style lobby, a pet-friendly lounge, a private pool and patio spaces, and an onsite public park that connects the project to the EastLink trail system.
The Block Yard’s commercial component will be located at the corner of East MLK Boulevard and Alexander Avenue and will be comprised of approximately 63,800 square feet of creative office space, along with 4,200 square feet of ground-floor retail. Boutique floorplates of approximately 17,000 square feet will be accompanied by 14’ floor-to-floor ceiling heights, ideal for open-office layouts and flexible demising. The building will also feature private outdoor terraces on every floor, along with access to the development’s shared fitness and conference facilities.
“The Block Yard represents TCC and HSR’s commitment to developing best-in-class, transit-oriented developments in the core of central Austin. As East Austin continues to mature and expand, The Block Yard positions both commercial tenants and residents to take advantage of an amenity rich, walkable location that sits within close proximity to key employment and entertainment hubs,” said Matteo Pacifici, a senior vice president with TCC Austin. “With ample onsite greenspace and amenities, connection to trails and transit, The Block Yard will deliver an authentic East Austin experience at a great value to comparable properties.”
“There are few opportunities to build a true mixed-use transit-oriented development in Austin,” said Katie Ekstrom, a senior vice president with CBRE, who along with Troy Holme is leading the marketing and leasing efforts for the project’s commercial component. “The quality office product that Trammell Crow Company and High Street Residential will deliver is in short supply in this particular part of the East side. The Block Yard will give office Tenants a modern and creative place to work in an ideal location to explore a new and upcoming part of this neighborhood.”
The Block Yard sits on four acres of land, directly adjacent to the Capital Metro MLK Light-Rail Station in the heart of East Austin’s MLK/Manor corridor. In addition to immediately walkable amenities along MLK Blvd and Manor Road, The Block Yard is connected by rail to the core of central Austin, one stop from Plaza Saltillo and the East 6th Street District, two stops from Downtown and three stops from the Domain, a popular mixed-use development with robust shopping, dining and entertainment options. The site is within two miles of the CBD, the State Capitol Complex and the University of Texas.
JHP Architecture has been tapped to design the multifamily building, while LEVY Architects has been tapped for the commercial component and project interiors. Landscape design is by TBG Partners. The Structural engineer is Urban Structure and the MEP engineer is EEA Consulting Engineers. Civil engineering is by Civilitude.
About High Street Residential
High Street Residential, a wholly-owned operating subsidiary of Trammell Crow Company, specializes in the development of multifamily housing. We have a deep background in urban, infill mixed-use residential development, as well as the redevelopment or repurposing of existing facilities. In the last 15 years, the firm has completed over $1.5 billion in projects with a current pipeline of nearly 3,000 units.
About Trammell Crow Company
Trammell Crow Company (TCC), founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired 2,700 buildings valued at nearly $65 billion and over 590 million square feet. As of December 31, 2019, TCC had $11.5 billion of projects in process and $4.4 billion in its pipeline. It employs more than 550 professionals in the United States and the United Kingdom.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 18 major cities throughout the United States and London. The company serves users of and investors in office, industrial, retail, healthcare, multi-family residential, through its operating subsidiary High Street Residential, and mixed-use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet the needs of its clients. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development and providing incentive-based fee development services.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, and the world’s largest commercial real estate services and investment firm (in terms of 2018 revenue). For more information visit www.TrammellCrow.com.
