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Developers Present Plans for $170M 5th & Brazos
Magellan Development Group LLC and Ryan Cos. U.S. Inc. unveiled plans for its combo hotel and residential tower in downtown Austin. The development, dubbed 5th & Brazos, will be 32 stories tall, and be built at an approximate cost of $170 million.
The site currently contains a parking lot run by Premier Parking. The partnership team plans to break ground on the project in Q4 2018. Once completed, 5th & Brazos will offer 400 hotel rooms, 274 residential units and 13,000 square feet of ground-floor retail space. bKL is the architect of record.
The developers have an approved site plan, but are working with the city on a construction easement and finalizing permitting for ground-up construction. The scheduled completion date is Q4 2020.
For comments, questions or concerns, please contact Amy Sorter
- ◦Development
