PRLog - May 5, 2014 - AUSTIN, Texas -- Riverside Resources has begun construction on Capital Ridge, a 215,000 square foot 7-story Class A office building located on a hillside overlooking Loop 360, near the intersection of Loop 360 and Bee Cave Road. The site, west of Dimensional Funds Advisors, is accessed off Loop 360. It sits on a 38 acre office/hotel campus of which 32 acres is dedicated green space.
Capital Ridge in Austin, Texas. Rendering by tiltpixel
The office building features a floor to ceiling glass façade and is located at the lip of a prominent hill providing spectacular views towards the 227 acre Wild Basin nature area and the UT Tower. The location is in the central portion of Loop 360 ensuring easy access to north and south Austin as well as downtown and Lake Travis.
The overall campus includes Hotel Granduca Austin, making Capital Ridge the only Southwest Austin office building where tenants are in walking distance of a hotel, restaurant, and bar. The 194-room Tuscan-style Class A boutique hotel adds a tremendous amenity to the office complex, including dedicated meeting spaces, board meeting rooms, a 220 seat ballroom and the full-service Italian restaurant, Visconti.
The hotel and office share a common structured parking garage, three floors of which are underground. Employees and visitors will have access from the garage to the office building through a natural limestone wall climate-controlled tunnel.
The building also features an expansive 3-story lobby as well as private terraces on various building levels. The building will be built to LEED standards. Several of Riverside Resources’ projects have been certified as LEED Gold or LEED Silver in the recent past.
Free parking and a significantly lower tax rate combine to make operating expenses for Capital Ridge substantially lower than comparable projects’ operating expenses, and the site is in near proximity to executive residential areas such as Barton Creek, Westlake Hills, and Lake Travis.
Win Smith, a member of the development team, noted that “We are excited for the opportunity to deliver 215,000+ square feet of Class A office space in a hill country setting. With the hotel, the views, and its central location, we think it’s a very attractive option.”
Doug Opalka, Senior Managing Director for HFF said that the company helped arrange financing for the project.
Riverside Resources focuses on investment, development and management of commercial real estate in Central Texas. The company has a 24 year operating history of delivering unique mid to high-rise residential and office projects, including the acclaimed Whitley, a downtown residential high-rise. Whitley was called “Austin’s Urban Paradise” by Green Building & Design Magazine in 2013 and is the recipient of the 2014 Austin Business Journal’s Multi-Family Development of the Year Award.
Other projects include Quarry Oaks I & II, Lakeview Plaza, 5900 Ben White, 5800 Airport Blvd, Austin Oaks, The Estates at Quarry Lake, Roaring Fork at Quarry, Sarita Valley and the Crescent Apartments.