Developers offer construction timeline for office tower component of project
Austin-based Endeavor Real Estate Group and Granite Properties of Dallas have released new images and a construction timeline related to the first phase of their three-phase mixed-use Gulch Union.
The release of the information and the looming start of construction of the office tower component follow the Aug. 1 purchase of a full 2.75-acre city block to accommodate the project. The acquisition price, not announced and involving multiple entities, is believed to be about $35 million.
To be called 1222 Demonbreun, the office tower will front 13th and span from McGavock to Demonbreun. Dallas-based HKS is serving as the architect, with the 20-story building to offer 330,000 square feet of Class A office space and 6,000 square feet of retail.
Of note, Endeavor and Granite are undertaking 1222 Demonbreun on a speculative basis. The building will be joined by a 16-story hotel tower and a 28-floor residential high-rise.
According to the release, demolition of the existing nondescript buildings on the site will take place this month, with excavation slated for September. By December, vertical construction will be underway. A February 2020 build-out of interior spaces will begin with a June 2020 date eyed for tenant occupancy in the office building.
Jamil Alam, Endeavor managing principal, credited the Turner family and its MarketStreet Enterprises (the Metro-designated Gulch master developer) for helping create a district that lends itself to high-profile development.
“The Turner Family has done a phenomenal job creating The Gulch, which has evolved into a world-class urban mixed-use neighborhood,” Alam said in the release. “With Gulch Union, we intend to expand and improve upon the tremendous momentum within the amenity rich, sustainable and walkable Gulch neighborhood.”
The office building will feature a fitness center with lockers and showers, a 48-seat training room, an indoor/outdoor sky lounge with downtown views, a catering kitchen, a micro-market, on-site property management and 24/7 security.
The team is pursuing LEED silver certification.
“1222 Demonbreun will offer a Class AA office alternative that is walkable to all the entertainment options in downtown while delivering tremendous views and visibility and allowing for quick access to and from the key traffic arterials,” Alam said.
Turner Construction is acting as general contractor. International Bank of Commerce is providing financing, with the leasing effort led by the Nashville office of Cushman & Wakefield and brokers Crews Johnston, Jenna Muller and Robby Davis.
John Robbins, senior managing director of Granite Properties, said the hope is to deliver “a distinctive and elegant building that's hospitality-driven with modern workspaces and building-wide programs that are productivity-enhancing, sustainable and foster a vibrant community.”