Endeavor plans $61M office building

The developer behind the planned redevelopment of the former Austin American-Statesman complex is looking downtown for its next project.

Endeavor Real Estate Group is planning to develop a five-story, 204,000-square-foot office building at Fifth and Walsh streets, costing an estimated $61 million, the Austin Business Journal reported. 

The project at 504 Walsh Street would redevelop several retail buildings, the outlet reported.

The property is near attractions such as Lady Bird Lake and Zilker Park. 

Collaborators for the project include Studio8 Architects, Lake | Flato Architects, Blacksmith Collaborative and Garza EMC.

The development comes at a time when office vacancies are up. Austin had a vacancy rate of nearly 16 percent citywide in the fourth quarter of 2022, according to Aquila Commercial. The vacancy rate for downtown was more than 18 percent.

Endeavor, owned by Kirk Rudy, is at the helm of mega-popular sites, such as the Domain and Southpark Meadows shopping center. The Domain, in particular, has struck gold, running the gamut as a hub for retailers, office space and multifamily.

Although neither of those complexes are downtown, Endeavor is no stranger to success within Austin’s city center as well. It developed the IBC Bank Plaza, a 13-story office building at 500 West Fifth Street. 

Redevelopment of the former site of the Austin American-Statesman is one of its largest projects. 

Located at 305 South Congress Avenue, the redevelopment will include multiple high-rises on a 19-acre lot, resulting in 1,478 residential units, 1.5 million square feet of office space, a 275-room hotel and 150,000 square feet of retail and restaurant space.

—Quinn Donoghue