About the Project
Real Estate Development
Austin-based ownership group Investor’s Alliance and RPM Living hired Hensel Phelps Real Estate Development to act as their Development Manager under a Development Management Agreement.
Construction
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 an Austin Energy Green Building 1 Star Rating.
