6/9/15 Austin Business Journal: 1 million square feet of office, multifamily, retail projects lined up at The Domain

June 9, 2015 by Will Schnier P.E.

By Jan Buchholz

June 9, 2015

Read Original Article Here.

The Domain continues to draw new development — almost as much as downtown Austin, which is undergoing its own unprecedented construction activity.
Projects at The Domain in North Austin near Braker Lane and North MoPac Expressway range from a four-story Restoration Hardware store to an 11-story, 300,000-square-foot office building to an upscale multifamily development.

None of the people involved in the projects could immediately be reached for comment by Austin Business Journal. Information about the developments — all in a variety of stages — was derived from the city of Austin development permits and the Texas Department of Licensing and Regulation.

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HomeAway is one of Austin’s flagship companies that picked The Domain as an employment center.

Developers include Austin veteran companies HPI Real Estate Services and Investments and Endeavor Real Estate Group.

Here’s a look at what’s in play:

Restoration Hardware(NYSE: RH) is building a 48,000-square-foot store at 11720 Domain Blvd. The project is valued at $11.2 million, licensing documents show.
A spokeswoman for the Corte Madera, California-based retailer said the company has no comment at this time — though it appears construction is underway. A building permit was issued in April.

At a time when many brick-and-mortar retailers are downsizing or closing, Restoration Hardware is investing more in the RH Gallery concept stores that top out, in some cases, at 60,000 square feet. Its upscale stores in West Hollywood, California; Greenwich, Connecticut; and Boston are prominently featured on the company’s website. The home furnishings and decor company recently announced it is building the largest store in its chain, at 70,000 square feet, in Las Vegas.

The RH Gallery stores include art collections, cafe and wine bars — which likely will be in queue at The Domain location.

Nelsen Partners in Austin is listed as the architect on multistory project. Currently the company operates a store at 10000 Research Blvd. in The Arboretum and an outlet store in San Marcos. No word yet on the fate of The Arboretum store, which is close to The Domain.

Endeavor Real Estate Group, the master developer of 300-acre mixed use project, appears to have several ventures in the works.

In May, the developer announced the creation of Rock Rose, about 100,000 square feet of retail development along Rock Rose Avenue, which will include a variety of restaurants and local retailers. East Side King, Salvation Pizza, Birds Barbershop, Viva Day Spa, Lavaca Street Bar-Turf N’ Surf Kitchen, Kung Fu Saloon and Acres Brew Coffee House are among the stores under contract.

In partnership with San Francisco-based Shorenstein Partners, Endeavor has long planned to build Domain 8, a 265,000-square-foot office building on about four acres at 11601 Alterra Parkway. The city planning department is awaiting updates for the $45 million project, which also is designed by Nelsen Partners. The 11-story building is projected to be LEED silver certified.
Another local company — HPI Real Estate also plans an 11-story office building along with a seven-story parking garage at 10725 Domain Drive. HPI representatives did not want to comment about those plans.

According to a letter sent to the city of Planning and Development Review Department April 28 by project engineers Big Red Dog Engineering and Consulting, the 4.6-acre site currently includes a portion of a parking structure occupied by the IBM 45 office building. The property is owned by Stonelake Capital Partners, records show.

Austin-based Stonelake Capital also appears to have a large multifamily project in the works named the Flatiron District. The project is valued at nearly $45.6 million, records show, and will include 371 units in three buildings at 11400 Burnet Road.

WDG Architecture in Dallas is the design firm for the development, which will cover 31.4 acres. Big Red Dog Engineering is handling that project as well.

The Residence Inn at The Domain— a Marriott brand — is slated for a 2.3-acre tract at 11305 Burnet Road. The 88,712-square-foot, 119-room hotel is being developed by SEC Burnet-Esperanza Ltd., a company formed by Endeavor.