701 Rio

About the Project

The 701 Rio project is a five-story office building located at the corner of Rio Grande and 7th Street in the downtown Central Business District of Austin. The project site is in a historic neighborhood near the State Capitol Building and parallel to the well-known entertainment district, West 6th Street. The 701 Rio project consists of four floors of Class A office space with the opportunity for ground floor retail and/or additional office space. The 124,206 gross SF office building contains five levels of underground parking allowing for up to 296 parking stalls (or a parking ratio of 3 stalls/1,000 RSF). Building amenities include a fitness center, lockers, showers, bike/scooter storage, a 6,418 SF rooftop terrace and Austin Energy Green Building 1 Star Rating.

 

Austin-based ownership group, Investor’s Alliance, hired Hensel Phelps Development to act as their Development Manager.

Quick Facts

  • Location Austin, TX
  • Client 602 7th Street Partners, LP
  • Industry Commercial
  • Line of Business Real Estate Development, Construction
  • Delivery Method CM at Risk
  • Completion Date 07/13/2021
  • Contract Value $ 38,500,000
  • Square Footage 253,000 SF

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