Kairoi Residential’s vision for the tallest tower in Texas is a wedge-shaped, glass-covered skyscraper in downtown Austin.
The San Antonio-based developer’s plans for a 66-story tower at 701 West Sixth Street is working through city hall as it is requesting increased density, the Austin Business Journal reported.
Plans submitted to the city entail 394 apartments or condos and 4,500 square feet for a ground-floor restaurant or bar. The tower is projected to comprise 567,000 square feet, slightly larger than downtown’s Frost Bank Tower.
Unlike that office tower, however, this is a pure residential play. That was a deliberate choice given the oversupply of office space in Austin.Kairoi Residential acquired the site in 2020 for an undisclosed price. Its proximity to dining, nightlife and employment centers made it ideal for residential development, Karioi CEO Michael Lynd previously said.
The firm hasn’t commented on the renderings, submitted to the Austin Design Commission. The commission discussed the project during a meeting this week, and some concerns were raised.
The site is partially within one of Austin’s capitol view corridors, and the rendering shows that the tower will take up only half of the lot. The developer is seeking a 30:1 floor-area ratio through Austin’s Downtown Density Bonus program to maximize the building’s height and density.
The site is home to the popular Whiskey Tango Foxtrot Icehouse and a food truck court. Some commissioners worried that replacing these businesses with a residential tower could dampen the area’s atmosphere.
“It feels like a step backward, in terms of the vibrancy that this location offers in Austin,” Commissioner Brendan Wittstruck said.
Proposed parking garage entrances on Rio Grande and Sixth streets were also a sticking point, with some commissioners suggesting that moving the entrances to an alley would better accommodate pedestrian traffic.
The tower would have a significant impact on the West Sixth Street area, if approved. It would join a rapidly growing number of towers shaping the city’s skyline.
Wilson Capital was spearheading a planned 80-story skyscraper in downtown Austin that would have surpassed Kaiori’s project in scope and size. However, that development was trimmed down to just 45 stories last year, after it failed to receive approval from the Austin’s Design Commission.
Kairoi is also behind several other projects Austin, including a development in East Austin that calls for 2,200 multifamily units, a 385-key hotel, 1.5 million square feet of office space, 20,000 square feet of retail and a 127,000-square-foot shopping center near the northern bank of the Colorado River.
— Andrew Terrell
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