Lincoln Property Co., Phoenix Property Co. Partner with DivcoWest to Build 48-Story Office Tower in Austin
AUSTIN, TEXAS — Lincoln Property Co. (LPC) and co-developer Phoenix Property Co. (PPC) have partnered with DivcoWest to develop The Republic, a 48-story office tower in downtown Austin. The developers say they have secured the building’s first major tenant, enabling construction to move forward. The developers expect to break ground on the project in the second quarter of this year.
Located at 401 W. 4th St. and spanning 833,000 square feet, The Republic will overlook Lady Bird Lake and offer a direct connection to Republic Square Park. The office tower will feature a green public plaza at its main entrance that will act as an extension of the park.
A 19th-floor amenity level will boast more than 50,000 square feet of indoor-outdoor space, including conference rooms, a fitness center, clubroom and a 25,000-square-foot outdoor terrace covered by canopies. In addition to the 20,000-square-foot public plaza, the ground floor will feature restaurant and retail space. Floor plates will average 29,000 square feet, and each floor will feature a private terrace.
The building design by Duda Paine Architects emphasizes both outdoor space and health and wellness. Features include touchless access technology and enhanced air-filtration systems. The developers are pursuing WELLv2 Core certification, WELL Health-Safety Rating, LEED Gold certification and the Austin Energy Green Building Program. Tenants who commute to work by bike will have access to a private elevator that will take them directly to storage space for nearly 350 bicycles, as well as a locker room and showers.
The Republic marks the second development partnership between LPC and DivcoWest in Austin and DivcoWest’s 11th overall investment in the market.
“DivcoWest continues to make Austin a key part of its long-term investment strategy given the city’s tremendous job and population growth, ability to attract a talented workforce and long-term focus on sustainability and green space,” says Michael Provost, senior managing director with DivcoWest. “The Republic was particularly compelling due to its unique connection to Republic Square Park and plethora of outdoor amenity space.”
Seth Johnston, senior vice president of LPC in Austin, says the building represents Austin’s spirit and dynamic lifestyle. “We believe The Republic will be a modern hub for top talent.”
Harvey-Cleary will serve as general contractor. HKS is the architect of record and sustainability consultant, TBG Partners is the landscape architect, WGI is the civil engineer, Blum Engineering is the mechanical, electrical and plumbing engineer and BDD is the structural engineer. A timeline for completion and the name of the anchor tenant were not provided.
LPC is a privately owned real estate firm based in Dallas that has developed more than 148 million square feet of commercial space, with an additional 8 million square feet under development.
Dallas-based PPC and the affiliated GrandMarc have developed residential and mixed-use communities with a total construction cost in excess of $1 billion.
San Francisco-based real estate investment firm DivcoWest has acquired approximately 58 million square feet of commercial space. Its portfolio includes existing and development properties in the office, R&D, laboratory, industrial, retail and multifamily sectors.
— Kristin Hiller