AUSTIN–Riverside Resources has started construction on Capital Ridge. The 215,000-square-foot class A office building is part of a 38-acre office/hotel campus near the intersection of Loop 360 and Bee Cave Road.
According to Win Smith, a member of the development team for Riverside Resources, the shell construction is underway and will be complete by April 2015.
Smith tells GlobeSt.com, the project stands out from other local properties for a number of reasons. “To start, the building will be built with first class materials. It will feature a glass curtain wall façade overlooking the 227-acre Wild Basin Preserve. Capital Ridge will also share the site with the Hotel Granduca, which will make it the only office building in the SW submarket where tenants can walk to a first class hotel, full service restaurant/bar, and conference center.”
The new office building within walking distance to the new Hotel Granduca Austin. The 194-room boutique hotel includes meeting spaces, a 220-seat ballroom, and full-service Italian restaurant.
The new office building includes a 3-story lobby and private terraces. It will also be built according to LEED standards.
“Class A space in the submarket is hard to come by,” Smith says. “Our goal is to deliver a project that allows users the opportunity to office in a unique environment that is conveniently located in the center of Loop 360.”
Currently the office property is being constructed without any secured tenants. Smith does say they are in conversations with a number of groups for the space.
HFF, through Senior Managing Director Doug Opalka, arranged construction financing for the project.
This is not Riverside Resources only project in Texas. The company’s other projects include Quarry Oaks I & II, Lakeview Plaza, 5900 Ben White, 5800 Airport Blvd, Austin Oaks, The Estates at Quarry Lake, Roaring Fork at Quarry, Sarita Valley and the Crescent Apartments.