Cousins Waiting for Right Time to Build Domain Central I
Publicly traded Cousins (NYSE: CUZ) told investors during a recent presentation that they are looking to build another tower at the Domain in downtown Austin.
A filing with the Texas Department of Licensing and Regulation indicated that they were planning to build 26-story Domain Central 1 in November with work concluding in June 2025. Cousins is looking at constructing the tower at the site of a parking lot at 3008 Esperanza Crossing.
Eventhough they went ahead with the filing, Cousin’s Colin Connolly isn’t sure the time is right to move forward, “I think over time we need to see costs come down or rents go up for us to financially justify moving forward. I’m optimistic that’s going to happen, and faster than many believe.”
Cousins has a large presence at the Domain. They currently owns 10 buildings with more under construction.
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.