On behalf of Travis County in Austin, Texas, CBRE and the Travis County Purchasing Agent are soliciting development proposals for a prime downtown Austin infill site comprising a full city block. The County seeks proposals that maximize value for the 77,215-square-foot site, which could be developed to 25:1 floor area ratio (FAR) based on the City of Austin’s density bonus program.
The site, at 308 Guadalupe Street, is bounded by Third and Fourth Streets to the south and north, and Guadalupe and San Antonio Streets to the east and west. Previously considered for public use, the site was recently repositioned to leverage its substantial value. The site is adjacent to significant development projects valued at more than $2 billion and is the most prime, undeveloped block in downtown Austin unrestricted by Capitol View Corridor limitations.
“In response to our constituents and voters, we are seeking to leverage the potential of this site, steward its value, and ultimately deliver enhanced County services by reinvesting the proceeds into our future Civil and Family Courts Complex. We are excited to be executing a competitive process that enables us to concurrently achieve County policy goals and maximize value,” said Travis County Judge Sarah Eckhardt.
The Travis County Purchasing Agent and CBRE will host a pre-bid conference on September 21, 2016and invites interested parties to attend. Communications throughout the solicitation process are limited to the County Purchasing Agent and pre-approved County Agents - questions can only be submitted utilizing the County Procurement website.
Todd Mills, Jerry Frey and Eric DeJernett, with CBRE’s Capital Markets and Advisory & Transaction Services teams in Austin, are teaming with Peter Jansen and Michael McShea, with CBRE’s Public Institutions and Education Solutions (PIES) Group, to represent the Travis County Commissioners Court in the solicitation process.
“We are very pleased to be assisting the County in this important effort and are deploying CBRE’s global transaction marketing resources to execute our scope,” said CBRE’s Project Manager, Peter Jansen.
Proposals are due to the County Purchasing Agent by November 9, 2016 at 2 p.m.
For more information, visit the property website.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
