Philadelphia-based developer Brandywine has mapped out a 66-acre site north of downtown Austin it will build into a dense district of shops, dwellings, hotels and office towers all served by a new commuter rail station that the company wants to locate on their property. Brandywine now has 22 buildings spread out in metro Austin that comprises about three million square feet of office space.
The the publicly-traded company entered the Austin market in 2006 when it acquired Dallas-based Prentiss Properties Trust and has ridden the wave of tech development in the Capitol city.
Brandywine's Schuylkill Yards project in Philadelphia is in process of being built right next to the rail system that serves the Northeast Corridor so the company is no stranger to mixing an urban center with train service. The Broadmoor train station in north Austin would put residents of the area within about a 20 minute ride of downtown and the Capitol. Funding for the new rail stop is now in the detail stage with a price tag of about $12 million. Austin's MetroRail would run adjacent to the complex.
“It’s been a period of extraordinary explosion down here,” said William D. Redd, Brandywine’s executive vice president overseeing development in Austin, quoted in the Philadelphia Inquirer. “We just happened to be here working at it when extraordinary things started to happen and have been the beneficiary.”
The Broadmoor project is about 10 miles north of downtown Austin and immediately east of the Domain, a complex that features a shopping district, offices and apartment buildings. It's being called a dynamic, transit-oriented, mixed use community in the heart of Austin's second downtown.
“We’re betting on the future and trying to put our money where our mouth is in terms of believing in mass transit,” Redd was quoted. “Long term, a mix of uses tied together in an urban fabric with a link into transportation is how things are going and how things ought to go.”