Massive 10 million-square-foot East Riverside development reveals first phase
The two companies behind a massive mixed-use project in Southeast Austin have unwrapped details about the first phase.
Those companies, Partners Group and Presidium, on June 30 revealed the 15-acre first phase of the 109-acre River Park project will offer:
- Two office buildings with roughly 420,000 square feet of space. Amenities include touchless systems, a fitness center, parking for electric vehicles, and storage for bicycles.
- A 370-unit apartment complex, with 60 percent of the apartments being earmarked for affordable housing. Amenities include a clubhouse and rooftop pool.
- 12,000 square feet of ground-floor retail space along East Riverside Drive.
- Nearly 1 acre of open space and parkland.
- Stormwater harvesting.
The River Park site, just east of Oracle’s corporate headquarters, is bounded by Roy G. Guerrero Colorado River Metro Park, East Riverside, Pleasant Valley Road, and Country Club Creek.
Design work on the first phase is underway. Leaders of the project aim to secure first-phase approvals and permits by early 2022. The master plan for River Park calls for more than 10 million square feet of space over the course of 10 to 20 years.
The planned Blue Line of the city’s new light-rail system will serve River Park. A linear park and greenway, totaling more than 30 acres, will connect Roy G. Guerrero Colorado River Metro Park to the planned Riverside transit station.
“Austin’s long-term goals and initiatives are represented in the plans for the first phase, setting a standard for the quality of the development going forward,” says Michael Piano, director of development at Presidium. “With the Blue Line coming to the doorstep of River Park, the community will gain access to transit-adjacent housing and employment, which will be supported by quality pedestrian environments.”
Houston-based real estate developer Hines is the development manager for the first-phase office component, while Presidium is developing the apartment building and serves as the project’s master developer. Gensler is designing the office component, and commercial real estate services company CBRE is in charge of marketing and leasing the office space.
Matt Bosquez, lead asset manager for private real estate at Partners Group, says River Park “will become one of Austin’s great outdoor-oriented communities that is truly inclusive for all stakeholders.” The project eventually will feature new streets and sidewalks, trail connections, and rain gardens.
“The design approach for River Park’s office buildings is rooted in health and wellness and focused on the scale of the neighborhood,” says Travis Albrecht, design director at Gensler. “Drawing from the 20-minute city concept where homes, workplaces, services, and recreation are all within a short walk or bike ride, this new development intends to fully integrate with the surrounding neighborhood, the future transit corridor, as well as offer ample access to the outdoors for tenants and the public.”