The Endeavor Real Estate Group has announced that the third and final phase of development for The Domain is set to launch in September 2016. Nine years after opening its doors, The Domain will unveil its final slate of retail stores, residential condos, and prime office space this fall, known as Domain Northside.
Partnered with Columbus Realty Partners and Lodgeworks, the Endeavor Real Estate Group is set to unveil 590,000 square feet of retail space, 125,000 square feet of office space, 563 luxury multi-family condos, and a hotel with over 170 rooms. The new development is already making waves in the Austin real estate market, as over half of the residential units have already been leased, and more than 20 shops and restaurants have committed to the project. The new development has solidified The Domain as the city's main hot spot for residential and office leasing.
The Domain Northside project will be centered on the opening of Austin's second Nordstrom department store on September 30. The development will also include a new multi-story concept Restoration Hardware store—a high-end home furnishing store. Many businesses in the new development will be new to either Austin, the state of Texas, or the entire country, including Suitsupply and FRYE Boots. The current lineup of businesses set to join The Domain include seven clothing stores, five home goods stores, six restaurants, three beauty stores, one jewelry store, and one leather goods store.
The Domain is currently Austin's prime shopping district. With over 100 upscale and mainstream retail stores and restaurants, The Domain is gaining a reputation as Austin's "second downtown." Almost half of businesses in the shopping district are exclusive to The Domain in Austin. With high-end boutiques like Louis Vuitton, Ralph Lauren, and Tiffy & Co., The Domain competes with any of the top shopping districts in the country.
The district has also become a major economic driver in the city, contributing over $20 million in sales tax and $9 million in property taxes to the local economy. New businesses continue to be lured to Austin thanks to the success of The Domain.
Keeping The Domain Weird
Domain Northside is looking to piggyback on the recent success of the January launch of the Rock Rose division. This art-filled walkable district features an impressive offering of unique restaurants and bars that have become one of Austin's go-to late night destinations. With restaurants like East Side King Thai Kun, General T'so Boy, Sway, and many others, Rock Rose offers an unrivaled variety of dining options.
The Domain offers a uniquely Austin experience, with its outdoor parks, creative landscaping, quirky art installations, frequent live music performances, and thriving nightlife. The seven different architects and seven different contractors developing Domain Northside will seek to keep up with Austin's authenticity, with a focus on maximized accessibility for pedestrians and satisfying residents' desire for inviting community spaces. The Endeavor Real Estate Group is also currently working on the Plaza Saltillo development in East Austin.
For more information on The Domain or to ask any questions you may have about Austin real estate, contact JB Goodwin today!