Intracorp Gunning for Tallest Residential/Hotel Combo in City
By Michelle Pitcher, Austin Business Journal
Intracorp Texas, a division of Vancouver-based Intracorp Homes, is vying to build the tallest residential tower and hotel in the city, and the developer on March 8 revealed new renderings and project details.
Conrad Austin and Conrad Residences Austin will loom 750 feet over East Second Street and Trinity Street, just north of the Austin Marriott Downtown and west of the Austin Convention Center. Conrad Hotels & Resorts is a luxury brand of Hilton Worldwide Holdings Inc. (NYSE: HLT), the hotel partner for the project. There are Conrad properties under development in other major markets, including Nashville and Los Angeles.
The tower will include 136 condos, 330 hotel rooms and approximately 11,000 square feet of retail and restaurant space on the ground floor.
The condos will be a mix of one-, two-, three- and four-bedroom options. According to Brad Stein, president of Intracorp Texas, the developer has not yet set prices for the condos, as they are still determining the full construction cost.
Tulsa-based Flintco LLC, which worked on Intracorp’s 44 East tower, will again be the general contractor for this project.
Compass Development Marketing Group, a division of Compass Inc., will manage sales and marketing for the residential units. They plan to launch sales later this year. The interior and exterior designers will be Rottet Studio and Page, respectively. Page previously worked on the 44 East project as well, but Rottet Studio is a new partner for Intracorp.
For the 65-story Conrad tower, Intracorp is requesting a downtown density bonus from the city of Austin. Austin Business Journal reported last week the tower was not recommended for complying with the city’s urban design guidelines but that it will still move forward to be considered by Austin City Council.
In order to build its project as planned, Intracorp is asking for a density bonus to raise the floor-to-area ratio from 8:1 to 25:1, which would essentially allow an additional 390,000 square feet. In exchange, Intracorp will pay nearly $4.8 million in fees-in-lieu of affordable housing, and it also plans to relocate a historic home currently at 307 E. Second St. to East Austin. The site of the tower is also currently home to restaurant Micheladas Cafe y Cantina.
Currently, the tallest building in Austin is The Independent at 58 stories tall, although the Sixth and Guadalupe tower under construction will be 66 floors.
Read the full article here.
REGISTER FOR CONRAD RESIDENCES AUSTIN HERE.