Cielo Property Group has broken ground in East Austin on The Foundry, a mixed-use office and residential project that will become the new regional office for DPR Construction.
DPR, which will serve as general contractor on the project, has leased 30,000 square feet in the three-story, 76,000-square foot office portion of The Foundry, at Fourth and Comal streets. Eleven of the project’s 17 condo units also are under contract.
The project is scheduled to open in March 2019.
DPR Construction also serves as general contractor on Cielo’s 29-story office tower Third + Shoal now under construction in downtown Austin.
After increasing its staff by 50 percent since 2015, DPR had outgrown its 18,000 square-foot office at Stonebridge Plaza in North Austin.
“We were looking for office space and Cielo was looking for a contractor to build the building as well as a tenant, so it seemed like a perfect opportunity to extend an already successful partnership,” said Matt Hoglund with DPR Construction. “The location is ideal for a number of reasons, including providing us with an opportunity to create an environment where our employees will be able to take advantage of green space and other amenities.”
The Foundry will be a half block from the Metro Rail stop at Plaza Saltillo, and adjacent to the Lance Armstrong Bikeway.
A bike maintenance facility and 75 bike spaces will be available on site.
The Foundry aims to earn LEED Gold certification from the U.S. Green Building Council and to rank among one of the first commercial buildings in Austin to earn net-zero energy certification from the International Living Future Institute. The Foundry also will seek to become one of the first buildings in Austin to earn WELL Certification from the International WELL Building Institute — a designation that recognizes buildings that improve health and human experience through design.
“This project is all about creating an office space that promotes wellness for our employees and at the same time ensures the building is efficient,” Hoglund said. “That is the reason we plan to seek the WELL Building Certification, which includes everything from the food brought in for employees to access to fitness programs.”
Sixthriver Architects designed the building, which will incorporate exposed concrete, decks, warehouse-style columns and reclaimed wood, brick and steel from the original Driskill Hotel laundry facility.
Independent Bank provided the construction loan.
Troy Holme, Casey Ford and Katie Ekstrom of CBRE are the leasing brokers.