According to a Sept. 23 memo distributed by Rosie Truelove, director of the city of Austin's Housing and Planning Department, Austin City Council has rescheduled its vote on Verde Square for Oct. 14. Previously, the zoning change request was scheduled to be heard Sept. 30.
SEPT. 21 ORIGINAL POST:
An upcoming development in North Austin will deliver apartments, a hotel and hundreds of thousands of square feet of mixed-use space on a site neighboring Q2 Stadium, the home of Austin FC.
Austin City Council on Sept. 30 is scheduled to vote on a zoning change request for Verde Square, a multiuse development planned off Burnet Road and located kitty-corner from The Domain. According to city documents, the zoning change will allow developers to build higher-density and taller buildings—up to 308 feet—on the site.
Verde Square is being developed through a joint venture from Austin-based firms Ironwood Real Estate and Karlin Real Estate. The mixed-use development will ultimately deliver 386,000 square feet of office space, 33,900 square feet of retail space, a 160-room hotel and 280 apartment units, according to city documents.
Scot Krieger, founding principal at Ironwood Real Estate, told Community Impact Newspaper the development will likely include four buildings. No tenants have been announced at this time, Krieger said.
Construction on Verde Square is expected to start by late 2022 with full build-out finished sometime in 2025.
The land of the development site is owned by Austin FC owner Anthony Precourt, according to city documents. However, Krieger said Precourt is not involved with the development of Verde Square.
“[Verde Square] will be energized by the adjacent Q2 Stadium,” Krieger said.
The 6-acre development site will be bisected by Bright Verde Way, the new roadway recently constructed for traffic in and out of Q2 Stadium. Zoning documents state the site is served by the Kramer Station on the MetroRail Red Line, and another upcoming Red Line station is planned approximately 1 mile north of the Verde Square development. A stop for a Capital Metro high-frequency bus route is further located in front of the property on Burnet.
Council may vote on the zoning request Sept. 30. According to Austin City Council backup documents, the zoning change is recommended by both city staff and the city of Austin Planning Commission for approval.