Downtown Austin office tower sells for $174M, will bring new shopping downtown

An office tower at 816 Congress Ave. sold for $174 million in late December, according to new owner Regent Properties. (Screenshot Courtesy Google Maps)
An office tower at 816 Congress Ave. sold for $174 million in late December, according to new owner Regent Properties. (Screenshot Courtesy Google Maps)

An office tower at 816 Congress Ave. sold for $174 million in late December, according to new owner Regent Properties. (Screenshot Courtesy Google Maps)

A downtown building sold for $174 million at the end of December, and the developers said they will spend tens of millions more upgrading it and adding retail space.

Regent Properties, a real estate development firm, will invest more than $30 million in renovations and refurbishment at 816 Congress Ave., Regent Properties spokesperson Aidan O’Connor said.


The 435,000-square-foot office tower holds 20 floors and provides panoramic views of Austin’s downtown and the state Capitol, according to a news release from Regent Properties. Upgrades will include turning 12,000 square feet of the tower into ground-floor retail space.

Regent Properties’ portfolio of investments includes properties clustered in Texas, Southern California and Arizona, though 816 Congress Ave. is its first in Austin, according to the company’s website.

Regent Properties CEO Eric Fleiss said in the news release that the firm chose Austin because of the city’s “business-friendly environment that continues to drive company expansions and relocations in the region."
By Maggie Quinlan

Reporter, Southwest Austin/Dripping Springs

Maggie joined Community Impact Newspaper as a reporter in July 2021 after a year spent covering crime, courts and politics at The Spokesman-Review in Spokane, Washington, near the border with Idaho. In Southwest Austin and Dripping Springs, Maggie covers education, business, healthcare, transportation, real estate development and nonprofits. Prior to CI, she graduated from Washington State University, where she was managing editor of the student newspaper and a section editor at her hometown newspaper based in Moscow, Idaho. Maggie dreamed of living in the Austin area for years and feels honored to serve the communities of Southwest Austin and Dripping Springs.