AUSTIN, TEXAS — Inspire Development, an Austin-based developer of residential and commercial properties, has broken ground on the first phase of Pearson Ranch, a new mixed-use campus in northwest Austin.
The $2 billion project will include 2.6 million square feet of new office space; 200,000 square feet of stores, restaurants and community and cultural spaces; two hotels; thousands of high-end residences; and 30 acres of park land. Phase I of Pearson Ranch will span 41 acres and feature approximately 600,000 square feet of office space, three high-end apartment communities and some lifestyle retail space.
“We worked very closely with our team to create a plan that tightly knits the past, present and future into the most compelling land plan possible,” says Brett Ames, managing principal of Inspire Development, as well as president and CEO of Austin-based Ames Design Build. “Frankly, we feel a true sense of obligation to get it fully right.”
Upon completion, Pearson Ranch will include 2.6 million square feet of Class A office space; 200,000 square feet of retail, restaurant and community and cultural spaces; two hotels; thousands of upscale residences; and 30 acres of park land.
The Pearson Ranch site is located on 156 acres at the corner of State Highway 45 and West Parmer Lane, which is approximately two miles north of Apple’s new $1 billion corporate campus. Other nearby employers include Dell, PayPal, Amazon and Visa. Pearson Ranch will include a 48-acre site zoned for office that Inspire Brands says is ideal for companies looking to expand in Austin.
“Located in the new premier hub for major technology companies, Pearson Ranch will provide needed access to office space for employers, generating new jobs and providing onsite access to retail, housing and park space for Central Texas,” says Williamson County Judge Bill Gravell.
The site features four entrance points and over three quarters of a mile of frontage along State Highway 45. Pearson Ranch residents, tenants and guests will also have easy access to CapMetro’s Lakeline Station, which brings together the MetroRail Red Line that runs from Leander, Texas to downtown Austin. Lakeline Station also features 485 parking spaces and offers access to Express and Metro bus services.
The development team for Pearson Ranch includes land use master planner Urban Design Associates, civil engineer BGE, land planner Land Strategies Inc. and architectural firms Davies Collaborative (multifamily) and Powers Brown (office).
Pearson Ranch’s entire buildout is anticipated to take approximately 10 to 15 years.
— John Nelson