A mystery developer has ambitious plans for a mixed-use tower in an ascendent Austin neighborhood.
Located at 2310 Donley Drive, it would deliver 400,000 square feet of office space and 550 multifamily units, according to a site plan submitted to the city and reported by the Austin Business Journal.
Information about the developer has not been disclosed, but the property owner is Zohair Jaffery, the CEO of Boost Logic and head of Jaffery Holdings LLC, according to the site plan application. Despite the ambitious nature of the project, Jaffery has remained tight-lipped about the development’s details and timeline. The project is described as a tower, but no height was given.
The project, near The Domain, would replace a 40,000-square-foot auto shop operated by Boost Logic.
It comes amid rapid growth in North Austin, where high-rise construction is reshaping the area, after the city relaxed height restrictions around The Domain and spurred a wave of development.
Several developers are leading this transformation with major projects underway.
Among them are Brandywine Realty Trust’s Uptown ATX complex, along with towers planned by Stonelake Capital Partners, High Street Residential, and Karlin Real Estate. Karlin’s super-sized development plans include 369 apartments, 450,000 square feet of office space, 35,000 square feet of retail and a 190-room hotel.
Turnbridge Equities is redeveloping nearly 13 acres on Donley Drive into 825 apartments.
Meanwhile, Los Angeles-based Kilroy Realty has run up more than $70 million in carrying costs for a stalled office development at 10615 Burnet Road. Construction stopped on the project, called Stadium Tower, in 2022 due to a struggling office sector and broader economic concerns, and it has yet to start again. The firm is burning about $715,000 a month to keep the site as-is.
— Andrew Terrell
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