A key entrance to The Domain off Braker Lane will be redeveloped with an 11-story office building, a parking garage and 371 apartments.
Austin-based HPI Real Estate Services & Investments broke ground in mid-August on a seven-story parking structure that will provide 2,300 parking spaces for the IBM Corp. building at the corner of Braker and Burnet Road and for a new office building.
Richard Paddock, HPI senior office leasing specialist, said the company partnered with Dallas firm Stonelake Capital Partners, which owns the property, to design a 310,000-square-foot Class A office building dubbed Domain Tower.
“We’re actively working to get a prelease for the building to allow us to move forward with construction [on Domain Tower],” Paddock said.
Domain Tower would offer tenants 15-foot-tall ceiling heights, an outdoor patio, indoor and outdoor workout spaces, and a private balcony on the 11th floor with views of downtown.
Once construction begins, Paddock said it will take between 16 and 18 months to complete the building.
StreetLights Residential, which built The Kenzie apartment building on Esperanza Crossing, is planning a multifamily project that will have a total of 371 apartments, according to StreetLights’ website. The project will be located between IBM and Lone Star Court, according to HPI’s site plan.