Brandywine pushes ahead with $3B mixed-use redevelopment near Domain

One of the biggest redevelopment projects in Austin’s history will start rising soon.

Philadelphia-based Brandywine Realty Trust executives said their ambitious 66-acre, $3 billion master-planned and transit-oriented community just east of The Domain is officially under construction. When all is said and done, the Brandywine (NYSE: BDN) project at 11501 Burnet Road will bring online about 7 million square feet of office, residential, retail and hospitality spaces — plus a new MetroRail station — to an area of North Austin between The Domain and Q2 Stadium.

Brandywine’s anticipated $3 billion investment is about three times as large as the price tag for the new local Tesla factory, and 7 million square feet is tantamount to building the equivalent of about 15 Frost Bank Towers on the 66 acres. The still-growing Domain development across the street now offers about 5 million square feet of offices and shops.

What has been known as the Broadmoor office campus is now called Uptown ATX, and it promises to extend the boundaries of Austin’s so-called second downtown, which now is anchored by The Domain’s tall buildings across the street from Brandywine’s site. Like The Domain, which is broken up now into two parts with more on the way, Uptown ATX will be built in phases.

The first three projects to be developed on Broadmoor’s site are called One Uptown, The Chase at Uptown, and Skyrise.

The plan for Uptown

One Uptown, which is already under construction, is a mixed-use project proposing to bring 348,000 square feet of office, 15,000 square feet of ground-level retail and 341 apartment units online. The project’s residential component would measure 379,000 square feet. 

Brandywine stated One Uptown’s price tag is $328 million and is being developed as part of a joint venture it entered with Los Angeles-based Canyon Partners Real Estate LLC. 

Brandywine confirmed there are several high-profile tenants interested in the office space, but no one has committed to a lease yet.

The next project up for development would be The Chase at Uptown, a two-building apartment project that would bring 529 apartment units to the 66-acre master-planned site.

Skyrise would be the crown jewel of Uptown ATX – two office towers rising above the entire development and matching other buildings being built at The Domain and adjacent to nearby Q2 Stadium. One Skyrise, the taller of the two buildings, would be 25 stories high and offer 750,000 square feet of office. The neighboring Two Skyrise would be 19 stories high with 550,000 square feet of office.

Courtesy of Austin Business Journal. See the full article here.