New Concept Will be Cheers Meets Lobby Bar
Urbanspace will relocate from its current headquarters at 801 W. 5th St. by year end, while the neighborhood coffee shop and bar are anticipated to open in time for SXSW 2020.
AUSTIN, TX—All of the ground-floor commercial space has been acquired in The Independent, known as Austin’s tallest tower and residential tower west of the Mississippi. With this commitment, Urbanspace Real Estate + Interiors will more than double its footprint and expand into the neighborhood coffee shop and bar business.
Urbanspace purchased all the remaining available space in the new 58-story tower. That footprint grew from an initial 13,500 square feet to approximately 23,700 square feet with the fresh entitlements Urbanspace secured to expand and add a mezzanine. The firm will use about 11,500 square feet as showroom and 2,800 square feet of that total to open a new coffee shop and bar concept. Moreover, it will seek out a restaurant operator to lease approximately 2,500 square feet to create a concept complementing its own offerings.
“The Independent is downtown’s single most talked about property and it’s because it has so many superlatives: most iconic architecture, tallest structure, coolest buyers, just to name a few. It’s humbling Urbanspace will be able to start its next chapter in this landmark building and we want to make our space a special place for our team and the community,” said Kevin Burns, a residential broker who founded Urbanspace in 2000.
Since then, Urbanspace obtained exclusive brokerage listings for The Independent’s 363 condos as well as other projects such as Seaholm and 44 East Ave. In all, it’s sold more than 1,500 homes in Austin with a contracted or sold value of more than $1 billion.
“Urbanspace has done a great job in promoting modern downtown living in Austin,” said Greg Henry, founder and CEO of Aspen Heights Partners, co-developer of The Independent. “They are an ideal fit for The Independent and surrounding neighborhood.”
Burns says the new concepts will be “a hybrid of Cheers and a high-end hotel lobby bar, with an authentic Austin feel.” Urbanspace will relocate from its current headquarters at 801 W. 5th St. by year end, while the neighborhood coffee shop and bar are anticipated to open in time for SXSW 2020.
“Urbanspace exists to promote a passion for the urban lifestyle. We started with brokerage/project marketing, while over time expanding into the interior design/home furnishings business. Our next extension will be into the coffee shop and bar business. But far more than a ‘business,’ we aim to thoughtfully use our space to foster community within Austin’s new center for urban living,” Burns tells GlobeSt.com. “Urbanspace is looking for a sophisticated but not ostentatious restaurant operator for 2,500 square feet it will lease to round out the retail offerings at The Independent.”
Urbanspace’s new office space will include an expanded furniture showroom to accommodate the high-end furniture and decor lines that the company carries as an extension of its interior design services.
“The location along Shoal Creek and proximity to the trail not only provide a beautiful backdrop to showcase our furniture but also allows easy access for Austin residents,” said Merrill Alley, lead designer for Urbanspace Interiors. “The new space, and the accompanying coffee and neighborhood bar will mesh well as a premier resource for homeowners and design professionals alike.”
Urbanspace Interiors recently expanded into other markets, bringing an Austin flair to vacation destinations such as Park City, UT and Jackson Hole, WY. The team travels the world in search of lines and brands that are thoughtfully detailed, including local designs from Austin creatives.
“Our retail experience aims to draw in downtown Austin’s casual shoppers while still providing the ability to take a deep-dive into our countless options for curated furniture and accessories,” said Clay Barker, showroom manager for Urbanspace.
With more than 20,000 square feet of amenities spanning across two levels of the building, The Independent offers health, recreational, professional and entertainment accommodations. There is an amenities deck on the ninth floor and an owner’s retreat on the 34th floor, GlobeSt.com learns.
The move marks the fourth office relocation and expansion for Urbanspace in the company’s 20-year tenure in downtown Austin, each location centering on Shoal Creek. As an avid user and supporter of the trail, Burns says that is by design. His love of Shoal Creek, Austin’s oldest urban trail, laid the groundwork for Urbanspace to become a major corporate contributor to the Shoal Creek Conservancy, a nonprofit organization dedicated to the restoration and preservation of the watershed.
“It is crucial to the trail’s future to be able to rely on financial contributions from supporters like Kevin Burns and Urbanspace,” said Ted Siff, Shoal Creek Conservancy’s board president. “His commitment to preserving our natural green spaces will help keep Austin’s urban community healthy and vibrant for years to come.”