Construction Launches on 125-Acre Eightfold MXU

Eightfold Development and Panache Development and Construction, both of which are owned by Adam Zarafshani, have begun construction on a $400-million, 125-acre mixed-use project dubbed Eightfold. The project is being planned and developed on the former Motorola site in East Austin on Ed Bluestein Boulevard and U.S. 183.

Entitlements total 4.8 million square feet, and he has permits to remodel three buildings. Additional permitting is underway. Meanwhile, Zarafshani indicated he secured its first $200 million in financing.

According to the Austin Business Journal, subcontractors are already on site, cleaning up, with plans to deliver 525,000 square feet of building space by the end of 2018. Eightfold has already secured 250,000 square feet in leases from three major tenants.

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