Both of those stores had closed as of late 2010, and have become locations for Anthropologie (in the former Ruehl location), and Lids (in the former Martin + Osa location). The shopping center notably is also one of the short list of locations containing outlets for two new store concepts - Abercrombie & Fitch Co.'s RUEHL 925, targeting affluent young professionals, and American Eagle Outfitters' adventure-oriented Martin + Osa. Neiman Marcus and a Macy's anchor (with Macy's fulfilling an earlier commitment by Foley's), along with 70 specialty stores, including an Apple Store, a Barneys New York CO-OP store, Burberry, Victoria's Secret, Tiffany & Co., BCBG Max Azria, Calypso Christiane Celle, Anne Fontaine, Lacoste, Lilly Pulitzer, Betty Sport, and a Microsoft store. The retail portion of the project has attracted many retailers and restaurants new to the Austin market. The first phase of the project, The Domain, opened on March 9, 2007, and includes 700,000 square feet (65,000 m 2) of restaurants, office space, upscale retail stores, apartments, and a hotel.
First phase The Neiman Marcus store in the first phase on The Domain The city of Austin expects to take in about $40 million in sales and property taxes over the 20 years of the incentive agreement. Plus, 25 percent of the property tax is rebated back to the developer for the entire 20-year period. The developer keeps 80 percent of the city's sales tax for the first five years and 50 percent for the next 15 years. Total developer compensation is a maximum of a net present value of $25 million. The developers were granted tax subsidies in 2003 from the City of Austin and Travis County. 2004 saw the demolition of Century Oaks Park, a multi-purpose recreational facility for IBM employees and their families, and the start of construction on the initial 57 acres (23 ha) Domain: Phase I.Īdditional land for The Domain was reclaimed from vacant IBM manufacturing and administrative buildings, as well as driveways and parking lots that were once part of the original IBM campus. In 2003, the Simon Property Group and the Endeavor Real Estate Group entered into a collaborative partnership to develop Phase I of The Domain's retail area. The initial plan had been to create a campus for the dot-com industry but those plans fell through when the dot-com bubble burst.
Buying the land was Endeavor Real Estate Group with the financial assistance from Blackstone Group and JER Partners. An additional 70 acres came from Multech (whose land had been purchased from IBM in 1997). In December 1999, IBM sold off 235 acres of land that would eventually become The Domain for US$60 million and leased back more than of the 2.5 million sqft office space that the property by then had. By this time IBM occupied 543 acres and had more than 7,000 employees in Austin, the majority of which worked on the IBM PS/2. In July 1989, after three decades of expansion in Austin, IBM announced their intentions to build 1 million sqft of office space east of Burnet Rd on the property now known as Broadmoor. The plant opened on J with 500 employees. On December 10, 1966, IBM unveiled their intentions to build a 200,000 sqft manufacturing plant for the IBM Selectric typewriter on the land that currently houses The Domain. It is bordered on the west by Union Pacific Railroad, on the west and north by Loop 1, on the south by Braker Lane, and on the east by Burnet Road.Īs of April 2022 The Domain has more than 5,000 apartment units and about 3.5 million square feet of office space Site history It is owned and operated by Endeavor Real Estate Group, Cousins Properties, Simon Property Group, and Stonelake Capital Partners. The initial phase of the project was completed in March 2007. The Domain is a high-density office, retail, and residential center in northwest Austin, Texas, United States that has been described as being "Austin's second downtown" and that primarily consists of 5-over-1 construction.
Variable most tenants single-story (2 in Arhaus Furniture, Macy's, Neiman Marcus, and Nordstrom, 3 in Dillard's, 4 in Parking Garages) Simon Property Group, Endeavor Real Estate Group Shopping mall in Texas, United States The Domain
0 kommentar(er)
