Situated in the epicenter of Austin’s CBD, Block 71 will deliver a vibrant mixed-use environment with a prominent 6th Street address through its three main components: a 683,000-square-foot Class AA office tower with ground floor retail, a historic 1914 post office re-positioned into a 25,000-square-foot retail/restaurant destination, and a 20,000-square-foot urban greenspace.
At 36 stories tall, the office building will stand as the tallest and largest office tower in downtown Austin and offer tenants an unparalleled experience through its extensive office amenities, including a fitness center, dedicated conference center and outdoor terraces. Block 71’s floorplates, at an average size of 33,000 square feet, will be among the largest in the market, making the project attractive to the growing tech tenant population while maintaining flexibility to appeal to more traditional office users.
TCC plans to further amenitize the Project by renovating the Claudia Taylor Johnson (CTJ) post office building into a food hall or urban market. Additionally, TCC will develop a +/-20,000-square-foot plaza in the northwest corner of the site to provide highly coveted green space within the project to benefit both the tenants of the office building and the CTJ.
Opportunity, Solutions & Outcomes
Given the recent trend of larger tenants taking down larger and larger leases, the project team recognized the market's shortage of contiguous available space in the near term and saw Block 71 as a significant opportunity to fill that market void.
Block 71 is anticipated to benefit from its timing to market, as there is a lack of competitive product expected to deliver in the CBD before 2021 and very few large blocks of contiguous space coming available in the near term. Collectively, Block 71’s attractive design features, widespread amenities and first-mover advantage should competitively position the asset in an already favorable market.