AUSTIN | IBC Bank Plaza | 186 FEET | 13 FLOORS | Complete

KevinFromTexas · #1 Posted **Jun 30, 2012, 5:06 AM**

http://www.statesman.com/business/re...e-2407005.html

Quote:

Planned 13-story downtown office tower to house IBC Bank's Austin headquarters

By Shonda Novak
AMERICAN-STATESMAN STAFF
Published: 9:17 p.m. Friday, June 29, 2012

Endeavor Real Estate Group unveiled the first public look Friday at a 13-story office tower downtown that it plans to develop for IBC Bank's new Austin headquarters, and an Endeavor official said the project could break ground in December.

The project, to be known as IBC Bank Plaza, is planned for 500 W. Fifth St., near Republic Square and the downtown post office. The development would include 195,000 square feet of office space, with IBC occupying about 19,000 square feet, including the bank lobby and a drive-through on the ground level, Endeavor and IBC officials said.

IBC Bank is financing the project, the cost of which IBC and Endeavor are not disclosing.

The project is expected to be completed in May 2014. About 165,000 square feet of office space on the upper floors and 11,000 square feet of street-level retail and restaurant space are available for lease, said Jamil Alam, a managing principal with Endeavor. Endeavor and IBC said they already have interest from tenants wanting to pre-lease office space in the building.

HKS ARCHITECTS

wwmiv · #2 Posted **Jun 30, 2012, 5:50 AM**

Good for infill, great design. Wish it were taller...

KevinFromTexas · #3 Posted **Jun 30, 2012, 6:06 AM**

^There's a CVC that runs right through the middle of that block. I'm pretty sure it'll at least be taller than the Federal Courthouse to the south. Maybe 150 feet tall. I'll try and get its height.

Downtown_Austin · #4 Posted **Jun 30, 2012, 4:35 PM**

Unlike retail or entertainment, there are no benefits of agglomeration with several drive through banks near each other.

//Granted, the surface parking is neither attractive nor productive.

JAM · #5 Posted **Jun 30, 2012, 4:54 PM**

Quote:

Originally Posted by Downtown_Austin

Unlike retail or entertainment, there are no benefits of agglomeration with several drive through banks near each other.

//Granted, the surface parking is neither attractive nor productive.

Why 5 drive thrus? Because in general, people are pathetically lazy...... Drive thru banks are dangerous areas to pedestrians.

SecretAgentMan · #6 Posted **Jun 30, 2012, 5:42 PM**

Quote:

Originally Posted by JAM

Why 5 drive thrus? Because in general, people are pathetically lazy...... Drive thru banks are dangerous areas to pedestrians.

Why? Because it is our 'Financial District'! ;-)

KevinFromTexas · #7 Posted **Jul 16, 2012, 3:26 PM**

I got an email back from the developer, Endeavor Real Estate Group. Here are the building heights:

186 feet to the penthouse on the west side of the building.
177 feet to the main roof on the west side of the building.

And now because the lot slopes downward by up to 13 feet as you go west, the heights on the east side of the building are shorter. So viewing the building on the east side makes it appear shorter.

174 feet to the penthouse on the east side of the building.
165 feet to the main roof on the east side of the building.

That's going to put it around the height of the Hyatt on Town Lake. It'll be taller than the Hobby Building and The Plaza, which are both nearby. Once it's completed it'll probably rank somewhere around the 70th tallest building in Austin. If it were complete today, plus factoring in buildings that are under construction now that will be taller than it is, it would be the city's 45th tallest.

GoldenBoot · #8 Posted **Jul 17, 2012, 11:16 PM**

Quote:

Originally Posted by Downtown_Austin

Unlike retail or entertainment, there are no benefits of agglomeration with several drive through banks near each other.

//Granted, the surface parking is neither attractive nor productive.

Don't forget: the backside of this lot (north) is/was slated for a residential building. According to the specs provided by Kevin...this still could be the case.

The rendering shown 7 posts above is the southern façade...facing W. Fifth Street.

Mopacs · #9 Posted **Aug 25, 2012, 6:22 AM**

New rendering of IBC Bank Plaza on Endeavor's website. This vantage point is from the southeast:

http://www.endeavor-re.com/property/...retail/photos/

corvairkeith · #10 Posted **Aug 25, 2012, 6:44 AM**

Decent infill, beats a surface parking lot. Although the design would look better with twice the height.

wwmiv · #11 Posted **Aug 25, 2012, 6:44 AM**

I actually like the design.

East7thStreet · #12 Posted **Aug 25, 2012, 6:47 AM**

Quote:

Originally Posted by wwmiv

I actually like the design.

My only problem with the design are the three drive-ways on fraction of a downtown block. Not very pedestrian friendly and there seems to be a scarcity of ground level retail.

BevoLJ · #13 Posted **Aug 25, 2012, 7:41 AM**

Quote:

Originally Posted by East7thStreet

My only problem with the design are the three drive-ways on fraction of a downtown block. Not very pedestrian friendly and there seems to be a scarcity of ground level retail.

That was my thought too. I was upset about it having a drive through, and I guess I am glad that if they are going to have one, it is under the building, but still. Would be so much better with out it.

The ATX · #14 Posted **Aug 25, 2012, 11:02 AM**

I think it compliments the Fed's house across the street. They are both a jumble of angles and inset spaces.

H2O · #15 Posted **Aug 25, 2012, 12:51 PM**

Quote:

Originally Posted by corvairkeith

Decent infill, beats a surface parking lot. Although the design would look better with twice the height.

I'm pretty sure the limited height is due to a Capitol View Corridor. That is why 360 has a notch at about that height. The remaining corner of the block does not have a height limit, and I think Novarre/AU may still be planning a tower there.

LoneStarMike · #16 Posted **Aug 25, 2012, 2:44 PM**

There was an article a couple of years ago when Novare's original 2007 plans for the site were changed.

Developer changes plans for downtown block
2 towers now planned for land west of post office: 1 residential, 1 office
By Shonda Novak
May 6, 2010

Quote:

Developers are laying the groundwork to proceed with a project proposed for the block just west of the downtown post office, with revised plans calling for a 28-story condominium tower and a 16-story office tower, plus a restaurant, shops and a bank.

The 1.2-acre site is bounded by Fifth, Sixth, San Antonio and Nueces streets and is owned by the International Bank of Commerce-Laredo, according to an engineer's letter submitted to the city as part of a request for approval for a site plan.

[SNIP]

The new proposal for the residential tower, called Ovation, is for 250 units with ground-level commercial space, according to a letter submitted to the city by project engineer James McCann with Longaro & Clarke.

The office tower would include a restaurant, bank and a parking garage with 567 spaces, according to plans filed with the city.

Taylor Andrews, president of Andrews Urban, Novare's Austin partner, said Thursday that Novare and IBC are working together on a possible project that would include a condo tower built by Novare, with street-level retail.

So if this is the project the article is talking about, and the 16-story office tower has been shortened to 13 floors, then if the condo tower gets built can it be higher than 28 floors and still be within the FAR ratio for that parcel?

SecretAgentMan · #17 Posted **Aug 25, 2012, 5:36 PM**

Quote:

Originally Posted by LoneStarMike

There was an article a couple of years ago when Novare's original 2007 plans for the site were changed.

Developer changes plans for downtown block
2 towers now planned for land west of post office: 1 residential, 1 office
By Shonda Novak
May 6, 2010

So if this is the project the article is talking about, and the 16-story office tower has been shortened to 13 floors, then if the condo tower gets built can it be higher than 28 floors and still be within the FAR ratio for that parcel?

Maybe. It depends on whether or not the Novarre project is part of this site plan or not. If it is a phased site plan including Novarre, the FAR is measured across the whole site. If the Novarre parcel is separate, the FAR only applies to that parcel.

the Genral · #18 Posted **Aug 28, 2012, 2:00 AM**

Quote:

Originally Posted by Hill Country

I think it compliments the Fed's house across the street. They are both a jumble of angles and inset spaces.

I agree. I also think this is a pretty building. I really like the color of the stone and the large amount of glass. I think they got this one right the first time.

corvairkeith · #19 Posted **Sep 6, 2012, 10:08 PM**

Looks like site prep has started for this one.

nixcity · #20 Posted **Sep 6, 2012, 10:24 PM**

i was hoping colorado and third would start first, this one may delay its start