Austin Builders Raise Their Sights on New High-Rises
Thanks to a recent City of Austin zoning change, area developers can reach even higher into the clouds. The City recently okayed changes to the code to allow taller projects, as long as they meet affordability and community benefit requirements.
Stonelake Capital Partners is wasting no time trying to capitalize on the latest change. Stonelake is proposing twin residential towers in the Domain that will set new records for height when they are completed. The Hollis will be 35 floors and 427 feet tall, while the Benjamin will be 27 stories and 338 feet tall. The site for the two towers is surrounded by other recent Stonelake Project including the 19-floor Bower Tower, which currently holds the record for the Domain’s tallest apartment building.
The two towers would rise from a 2.39-acre site at 3120 Gracie Kiltz Lane inside the Domain, that’s currently a. parking lot. The Benjamin tower contains an approximately 1,500-square-foot retail space at the lobby level. The Morgan Group is building a 7-story apartment project nearby.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.