Cielo Property Group to Develop 46-Story Office Tower in Austin

AUSTIN, TX – Cielo Property Group is set to develop 750,000-square-foot office building in downtown Austin, TX. The locally-based firm plans to break ground on the 46-story tower in late summer.

The office building, titled the Perennial, is anticipated to be one of the tallest and most sustainable buildings in Austin once complete in 2025. Cielo Property Group aims to obtain LEED-Platinum and Well-Platinum status for the property.

The wellness-focused property will offer office space, three floors of retail space and more than 100,000 square feet of landscaped outdoor space. The Perennial’s retail space will encompass 37,000 square feet of restaurants, entertainment venues and wellness-focused retailers.

The tower will feature a ground-floor public paseo with a 28-foot waterfall and sunken garden; 1,200- to 4,500-square-foot balconies on every office floor; and a 30,000-square-foot tenant Sky Garden with 360-degree views, a 500-person gathering space, private meeting rooms, a walking trail, concierge, food and beverage services.

“With a top-to-bottom focus on enhancing well-being through technology, nature and unrivaled amenities, there’s simply nothing like this building in the Austin office market today,” states Cielo Property Group co-founder Bobby Dillard. “The needs and priorities of companies and their workers have changed significantly over the last two years and people are placing a higher priority on wellness. The Perennial is designed to make the office a place where workers want to be because it provides a healthy and engaging environment where they can do their best work.”

Cielo Property Group recently received site plan approval from the City of Austin for the office tower.

Cielo Property Group has retained Perkins & Will as the project’s architect, and Michael Hsu Office of Architecture as the project’s interior design and ground architect. Garza EMC is serving at the Perennial’s civil engineer and JE Dunn Construction is serving as general contractor. Aquila Commercial will handle the project’s leasing.

The firm originally purchased the 0.8-acre development site along Fourth St. between Brazos St. and San Jacinto Blvd. in 2021 and it acquired the northern end of the same block along Fifth St. in early 2020. Cielo Property Group does not have a specific proposal for the northern end of the block yet. The firm initially considered a second office tower development, however, it is now working on plans for a residential and hospitality high-rise in effort to allow for more activity on the block.

Dillard says, “The downtown Austin office market is recovering faster than anyone imagined, but the more we studied the market and this site, the more we felt that a true, integrated mixed-use development on this block was better for the Perennial and the surrounding downtown neighborhood.”