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The Austin City Council has approved a rezoning request for a full city block in downtown Austin, clearing the way for a significant mixed-use redevelopment along West Martin Luther King Jr. Boulevard and 18th Street. The plan calls for replacing the existing low-rise buildings with two new high-rise towers that will combine hospitality, multifamily, office, and retail uses on a single site.
According to reporting cited from the Austin Business Journal, one of the planned towers is expected to be a 476-room hotel. That tower is also planned to include nearly 35,000 square feet of office and retail space, blending lodging with commercial space in a vertical mixed-use format. The second planned tower is described as a 287-unit multifamily building that would incorporate 35,000 square feet of retail space, positioning it as a residential-led property with a sizable street-level or podium retail component.
The redevelopment would displace several existing low-rise structures that currently occupy the block. Those buildings house a Jack Brown Cleaners location, the original Tiff’s Treats cookie store, a Jimmy John’s restaurant, and a group of low-rise apartment buildings. Once demolished, the site would be repurposed into a denser, more vertically oriented project in the heart of downtown Austin.
Rundog Real Estate Group is identified as the developer behind the proposal. The firm is pursuing the project through both the rezoning action and participation in Austin’s Downtown Density Bonus Program, which is designed to allow additional density in exchange for meeting specified city requirements. Beyond the zoning change, Rundog is also seeking formal approval under this program to advance the scale and intensity of the planned towers.
The combination of hotel rooms, multifamily units, and sizable retail and office components positions the project as a large-scale mixed-use addition to downtown Austin’s urban core. The approvals secured to date focus on land use and density, while additional steps and approvals will still be required before construction can begin.
The post Austin Approves Rezoning for Rundog’s Downtown Hotel and Multifamily Towers appeared first on CRE Market Beat.
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