The Situation:
Intracorp was actively looking for a new partnership city in the U.S. With expertise building urban infill projects in Vancouver, plus a strong understanding of U.S. business, financing and partnerships from existing Seattle and Newport Beach offices, it was time to look for the next opportunity. But one question remained: which city was the best fit?
Our Process:
As strong believers that “real estate is local,” Intracorp wanted to choose a city with the potential for a long and successful partnership. We looked at everything that makes a place really livable. We ask questions such as, what’s the cost of living like? Are there jobs, fun things to do, opportunities on the horizon? Is there a desire to be urban? Have Millennials set their sights on this city? Our group looked at dozens of different metrics and left no rock unturned. Denver, Portland, locations in North Carolina — all of them seemed attractive for various reasons but, in the end, Austin, Texas rose to the top. Located in the fast growing sunbelt of Central Texas, in the Southwest region of the U.S., Austin has the right mix of infrastructure, cultural venues, natural attractions and corporate investment. It’s not only known as the Live Musical Capital of the World, but Austin is also home to lakes, greenbelts, natural outdoor amenities, the top-rated University of Texas, a burgeoning technology scene, as well as large downtown offices for companies like Google and Facebook. There’s no question about it — Austin is going places. And the demand for new housing in the urban core is real. We were immediately drawn to the entrepreneurial spirit of the city. We saw that there was a desire to densify the urban core as a response to where people want to live, but also how they want to live. This was a perfect fit for Intracorp.
The Opportunity:
After extensive on-the-ground research — and listening, listening and more listening to Austin residents, city staff and partners — the team pinpointed a rare waterfront site on Lady Bird Lake in the city’s downtown core. With a local design and construction team in place, Intracorp hopes this is the first of many projects, and the beginning of an extraordinary partnership with Austin.
Read more about our first project in Austin in the Project Highlight.
