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Austin: Broadmoor Mixed-Use Project Gains Traction

Featured Illustration (above): Broadmoor redevelopment promises new retail, hotels, restaurants, open spaces and office space in North Austin. Image: Brandywine Realty Trust

Posted: 10-2-19

By Edmond Ortiz
Austin (Travis County)Brandywine Realty Trust, owner of the 66-acre Broadmoor redevelopment in North Austin, has hired a noted Chicago-based real estate services firm to act as retail leasing advisor for the ongoing project.

The firm, Jones Lang LaSalle (JLL), was also hired to manage marketing and sales for the 1.77-acre hospitality site within the Broadmoor development.

It’s one of the latest moves forward for Broadmoor, which is being designed to bring a huge commercial mix, 6 million square feet of retail, entertainment venues, recreational opportunities, offices, residences, green space and hospitality that will enhance IBM Research-Austin.

The high-tech company’s Broadmoor campus site is located along the eastern edge of Burnet Road at Palm Way.

Based in Philadelphia, Brandywine envisions Broadmoor as a transit-oriented, mixed-use community in what the developer calls “Austin’s second downtown” in its marketing literature.

Broadmoor would tie into 23 miles of new and existing urban trails, increasing walkability for neighborhood residents.

An early preliminary site plan for Broadmoore shows new open spaces, trails, residences and businesses, along with a new MetroRail stop. Image: Brandywine Realty Trust

Since the 1980s, IBM has erected about 1.1 million square feet of office space at its Broadmoor campus; there stands today seven office buildings, parking structures and acres of surface parking lots.

Broadmoor is east of Burnet Road from The Domain, a major mixed-use development that has joined IBM, the local Charles Schwab corporate office and Amazon‘s local campus in dominating the city’s north central, tech company-heavy sector. This area is served by a MetroRapid bus line and would include a new MetroRail station.

JLL ​Senior Vice Presidents Barry Haydon and Jon Switzer are responsible for the retail marketing and leasing efforts for the project.

Senior Vice President Joe Dowdle is overseeing the sales and marketing effort for the hospitality site.

“Brandywine is creating a true, urban, prototypical live-work-play environment in Broadmoor with fantastic connectivity and vibrancy, a tremendous draw for Austin’s deep and growing talent pool,” said Haydon in a press release from JLL.

“The project is designed to be core driven, offering retail concepts to meet the needs of its growing residents and neighbors. Its accessibility and location make it ideally suited for retailers interested in joining a unique roster of best-in-class shops, restaurants and entertainment.”

Brandywine has been busy the last several weeks, filing site plan applications with city planners. A preliminary plan for the whole project site, filed this past June, shows 2,996 total apartments are envisioned for the property.

The site plan divides Broadmoor into a grid of about dozen blocks. One application proposes a multifamily, mixed-use community on “Block A”–a 5.4-acre piece of land that’s presently used for parking space.

An aerial review of the existing IBM Research-Austin/Broadmoor complex. Image: Brandywine Realty Trust

A second site plan application proposes a multi-family development and structured parking on “Block F” — 5 acres that are presently occupied by office and parking spaces.

Austin-based Kimley-Horn and Associates is the engineer for Blocks A and F.

The site plan application does not say how many multifamily units are being proposed for Block A.

There’s no information that indicates when city commissions or City Council will take up the individual site plans. Council voted last year to rezone the entire property to accommodate the massive mixed-use project.

Not all of Broadmoor is new construction. Renovations are continuing at some of the existing office buildings that were constructed in the 1980s. Brandywine applied a $35 million makeover of one building in 2018.

Other existing facilities are eyed for remodeling or demolition and replacement.

Elsewhere in the Austin area, Brandywine has developed leaseable office space in a handful of single buildings and multiple-building complexes in and around Austin.

Those office developments include Barton Skyway on South MoPac Expressway, and River Place and Four Points Centre, both near Farm Road 620.


edmond@virtualbx.com

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By |2019-10-02T15:30:39-06:00October 2nd, 2019|Feature Story, Industry News|

About the Author:

Edmond Ortiz is a lifelong San Antonian and a 20-plus-year veteran in local journalism, He previously worked full-time at the San Antonio Express-News, and has been freelancing for outlets such as the Rivard Report.

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