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Hines announces timber office project in Austin Katherine Feser Aug. 25, 2021Updated: Aug. 25, 2021 2:40 p.m. Hines is developing T3 Eastside at 1200 E. 4th St. in Austin. It's the company's first Class-A timber project with a residential component. Hines Houston-based Hines announced it would build its first timber office project in Texas. T3 Eastside, in Austin, will have 92,000 square feet of office space and 9,200 square feet of residential space. The project, a Hines eco-minded initiative named for timber, transit and technology, will be developed at 1200 E. 4th St. and include 15 loft-style units with a historical industrial design. It is among 16 T3 office projects for Hines and is the first to be designed with a residential component, according to John Mooz, senior managing director at Hines. The construction method incorporates wood products generated from fast growing trees. T3 Eastside, which is accessible to downtown by rail, is the first project in Austin for Hines in more than 40 years. Several additional projects across various sectors will be announced in the coming months. JLL is marketing the space to tenants in creative industries such as technology, advertising, media, information and biotechnology/life sciences. “T3 Eastside is designed to accommodate needs of firms who seek creative-class workers and residents by delivering a unique product and location while offering proximity to living, dining, entertainment and easy access to transit while honoring the unique artistic spirit of the neighborhood,” Philip Croker, senior managing director at Hines and co-Austin city head, said in an announcement. The building will feature areas for collaboration, a rooftop patio, private outdoor balconies for tenants, shared conference space, a fitness center and bike storage facilities. Austin's office vacancy rose to 16.9 percent in the second quarter as 1.9 million square feet of office space was completed in the first half of the year, according to JLL. Occupancy was 10.6 percent in the year-ago quarter. Another 4.2 million square feet is under construction in the Austin area. Hines has developed T3 projects in cities such as Minneapolis, Atlanta, Denver, Toronto and Melbourne, Australia. https://www.houstonchronicle.com/business/real-estate/article/Hines-launches-timber-office-project-in-Austin-16411232.php
https://product.costar.com/home/news/shared/1931708221?utm_source=costar&utm_medium=email&utm_campaign=costar-market-newsletter&utm_content=p1 Thanks to Hines, we get them before the rest of Texas. But only 5 stories due to building codes.