Downtown Austin developers are still aiming for the stars, at least when it comes to building heights. The latest entry in a crowded area is Intracorp Texas, a division of Vancouver’s Intracorp Homes. The developer is partnering with Hilton-owned Conrad to build the residential and hotel tower, which it says will be the tallest of its kind in the Texas capital.
Conrad Residences Austin (the condo portion) and Conrad Austin (the hotel portion) will be 750 feet tall and 65 stories high, making it the tallest residential and hotel tower in the city (unless another skyscraper hotel-residential beats him to the punch). Its 136 residences, which will range from one to four bedrooms, will be located on floors 39 to 65. The 330-room Conrad Austin luxury hotel will sit below. More than 10,000 of the tower’s 573,000 square feet will be indoor/outdoor amenity spaces, restaurants and bars.
The set will take place at 311 E. 2nd Street, less than a block from the Austin Convention Center and amid a handful of mid- to high-end hotel towers, including the Fairmont, the Line and two Marriotts. The location makes the Conrad Hotel element a natural choice, said Brad Stein, president of Intracorp Texas. He also noted that there are “millions of square feet of office space” in Austin’s pipeline and predicted that “corporate travel, convention travel and tourism” will all make a comeback. in the city, if they haven’t already.
“Every city’s hotel market has been impacted over the past two years,” Stein said. “But it will bounce back. It has already rebounded in recent months.
The project took a few years to come to fruition, Stein said. It’s still working its way through the city process to get a density bonus, which would allow for more square footage.
Texas-based Page is the building’s architect and Houston-based Rottet is the interior designer. Intracorp is also partnering with Denver-based hotel company Miller Global for the building. Compass, which brought in about $190 million in Austin luxury home sales last year, will serve as the sales and marketing agent. Flintco of Tulsa will be the general contractor. Stein expects the project to launch later this year. Projected costs for the project have not been released, nor have projected room rates or residential selling prices.
The residences and hotel are Intracorp Texas’ fourth project in Austin. He developed the Third and Shoal office building and 44 East condos downtown and is working on One Oak condos and Congress Lofts in St. Elmo in south Austin.
Intracorp is considering other developments in Austin, including a leasing project, Stein said, although he did not disclose details. He said Intracorp expanded into Austin a few years ago because it was looking to expand into a similar market in Vancouver: “Young, active, outdoors-oriented, with an urban lifestyle and good growth in population and employment”.
“Texas is pro-business in a way that supports condo development,” he added. “From a regulatory standpoint, a condo developer has a lot of good things here.”