AUSTIN, Texas, Nov. 16, 2021 /PRNewswire-PRWeb/ -- Today, Lincoln Property Company and Karioi Residential, in partnership with DivcoWest, are proud to announce they have reached two major milestones at Sixth and Guadalupe in Downtown Austin – the topping out of the commercial portion of the building and commencement of residential construction. Designed by Gensler and constructed by JE Dunn, Sixth and Guadalupe will be the first mixed-use high-rise in Austin to combine over a million square feet of office, residential, retail, and outdoor space within one carefully choreographed building, including 9,984 square feet of retail on the ground floor, 14 levels of below and above-grade parking with ample electric vehicle chargers, 589,112 square feet of Class A office space on floors 14 through 32, and 349 residential homes on floors 34 through 66. Upon completion, this new tower will transform Austin's skyline as the tallest building in the city at 875 feet and the fifth-tallest building in Texas.
"By stacking retail, office, and residential under one roof, Sixth and Guadalupe reimagines the way we live, work, and play delivering a new kind of urban experience in the city," said Seth Johnston, SVP of Executive Management at Lincoln Property Company in Austin. "Austin is one of the fastest growing and most sought-after cities in the country for corporate expansions and HQ relocations; we feel that Sixth and Guadalupe will offer the best opportunity in Austin for both. Reaching these construction milestones gets us closer to making this mixed-use development a reality and we are grateful for all of the dedicated women and men working together to bring Sixth and Guadalupe to life."
Sixth and Guadalupe is designed to foster community, creativity and innovation with state-of-the-art amenities including the largest outdoor office terrace in the CBD and the highest residential sky pool deck in the city. "With a focus on health and wellness, the building has expansive glass bringing in an abundance of natural light, amenities catering to today's healthy lifestyle, unparalleled views of the city, best-in-class amenities, high-end finishes, and countless places to dine and gather within walking distance," said Tony Curp, SVP of Development at Kairoi Residential. "When complete, we believe Sixth and Guadalupe will bring something new and truly special to downtown for companies and residents alike."
The ground floor of Sixth and Guadalupe will contain approximately 10,000 square feet of retail space that aligns with Austin's vision to create an enhanced pedestrian experience and a more vibrant streetscape. The project's convenient location at the corner of West 6th Street and Guadalupe places it close to existing public transit and the planned metro line, making it a superior pedestrian and transit-friendly option for commuters while supporting traffic reduction efforts for the city as a whole. Further, those traveling to and from work by bike will find a seamless experience from garage to office suite, with dedicated access, ample bike storage, showers and locker rooms. These features, in addition to the unprecedented amount of outdoor workspace, advanced air filtration systems, touchless access technology, and other sustainability initiatives aim to set a new standard for employee wellbeing in downtown Austin.
Sitting above the retail and parking levels is approximately 590,000 square feet of office space developed by Lincoln Property Company with floor plates starting at 30,242 square feet, 14'6" deck-to-deck ceiling heights, and private balconies on each floor designed to bring the inside out. Setting the experience apart is the level 14 office amenity deck that includes a 25,000-square-foot outdoor terrace with broad southern lake and unobstructed Texas State Capitol views, a 6,400-square-foot tenant lounge/bar and conference center and a 5,600-square-foot fitness center equipped with spa-quality locker rooms and showers.
With commercial floors completed, the team has now begun construction on the residential portion of the tower. Developed by Kairoi, the residential space will contain 349 for-rent apartment homes with luxury finishes and sweeping 360-degree views. Sixth and Guadalupe residents will have exclusive amenities that are purposefully separate and private from office users, including three different sky deck pools and landscaped indoor-outdoor decks adorned with cabanas and lounge seating. Residents will also have access to a 24-hour health club with virtual fitness classes, an outdoor yoga deck, a podcast studio, theatre room, game room, and a first of its kind dog park and dog wash. Additional amenities, including a concierge service and a conference room with private work areas that allow residents to easily and conveniently work from home, make even the smallest everyday tasks feel effortless.
Sixth and Guadalupe is expected to deliver in Spring 2023.
About Lincoln Property Company
The commercial developer, leasing agent and property management company of Sixth and Guadalupe is Lincoln Property Company (LPC). Founded in 1965, Lincoln Property Company is a Dallas, Texas-based global real estate company with offices in more than 45 cities in the United States and 10 cities throughout Europe and is one of the largest privately-held commercial real estate companies in the United States. LPC's real estate services include investment and acquisition, property management, development, facilities and engineering management, and brokerage services worldwide. Currently, LPC has $94.3 billion in total assets under management and has developed 148 million square feet of office, residential and industrial space.
About Kairoi Residential
Kairoi Residential is the residential developer behind Sixth and Guadalupe and is a premier, vertically integrated, multifamily investment, development, and property management company headquartered in San Antonio, with offices in Austin and Denver. Since 2003, the partnership has transacted $6.3 billion across 65,000 multifamily units in many cities and states around the country.
Founded in 1993 by Stuart Shiff, DivcoWest is a vertically-integrated, real estate investment firm headquartered in San Francisco, with offices in New York, Boston, Washington, D.C., Los Angeles and Menlo Park, CA. Known for long-standing relationships and experience across the risk-spectrum in innovation markets, DivcoWest combines entrepreneurial spirit with an institutional approach to deliver real estate solutions and opportunities. Since inception, DivcoWest and its predecessor have acquired nearly 50 million square feet of commercial space - primarily throughout the United States. DivcoWest's real estate portfolio currently includes existing and development properties in the office, R&D, lab, industrial, hospitality, retail and multifamily spaces.
The architect behind Sixth and Guadalupe, Gensler, is widely recognized as the world's leading collaborative design and architecture firm. Their ability to work together as an integrated team is part of their DNA and they have embraced it at every level, from their Co-CEOs to studios and project teams.
Forward Looking Statements:
Certain statements in this press release that are not in the present or past tense or that discuss the Company's expectations (including any use of the words "anticipate," "assume," "believe," "estimate," "expect," "forecast," "guidance," "intend," "may," "might," "outlook," "plan," "potential," "project," "should," "will" or similar expressions) are forward-looking statements within the meaning of the federal securities laws and as such are based upon the Company's current beliefs as to the outcome and timing of future events. There can be no assurance that actual future developments affecting the Company will be those anticipated by the Company. An example of a forward-looking statement is the timing of commencement and completion of construction projects. These forward-looking statements involve risks and uncertainties (some of which are beyond the control of the Company) and are subject to change based upon various factors including, but not limited to, the following risks and uncertainties: changes in the real estate industry and in performance of the financial markets; the actual or perceived impact of U.S. monetary policy; competition in the leasing market; the demand for and market acceptance of the Company's properties for rental purposes.
Courtney Bianchi, lookthinkmake, 512-765-9545, [email protected]
SOURCE Lincoln Property Company