Office/Retail to Offer Access to South Congress Corridor
River South is an office development totaling 360,860 square feet with 37,000-square-foot average floorplates to accommodate high-density users, five levels of subterranean parking and a fitness studio.
AUSTIN, TX—River South is an office development totaling 360,860 square feet in South Austin slated for completion in 2021. It will comprise 347,778 square feet of office and 13,082 square feet of ground-floor retail within a 15-story glass structure. The property will feature 37,000-square-foot average floorplates, allowing increased flexibility for high-density users, five levels of subterranean parking and a fitness studio.
River South is located at 401 South First St., which is at the confluence of South First Street, W. Riverside and Barton Springs Road, just across Lady Bird Lake. This location benefits from Austin’s live, work, play lifestyle with immediate access to the South Congress corridor, the downtown employment hub and the neighborhoods of Zilker, Bouldin Creek and Travis Heights.
HFF arranged a $122.94 million construction loan for the development. The firm worked on behalf of the borrower, Stream Realty Partners, to secure the construction loan through New York Life Real Estate Investors on behalf of New York Life Insurance Company. The HFF debt placement team representing the borrower included senior managing director Colby Mueck, managing director Robert Wooten, senior director Chris McColpin and analyst Jayme Nelson.