Tuesday, April 30, 2013
IBC Bank Breaks Ground in Construction of New Austin Headquarters
IBC Bank Plaza is the first new downtown
office tower in more than a decade
Endeavor Real Estate Group Managing Principal Jamil Alam, IBC Bank Chairman Dennis Nixon, Austin Mayor Lee Leffingwell, and IBC Bank-Austin President & CEO Bob Barnes celebrate the groundbreaking of the IBC Bank Plaza on April 30, 2013.
(April 30, 2012) AUSTIN, Texas – IBC Bank, the City of Austin, and Endeavor Real Estate Group celebrated the ground breaking of the IBC Bank Plaza building on April 30. Austin business, community, and government leaders gathered to witness the breaking of ground by IBC Bank and city officials, the unveiling of renderings of the building, and an address by Austin Mayor Lee Leffingwell.
IBC Bank Plaza is scheduled to open in spring 2014 and will be a 194,794 rentable square foot, class “A” building located at 500 W. 5th Street. IBC Bank-Austin will occupy approximately 27,000 rentable square feet in the building, including a bank lobby and drive-thru on the ground level. The building will house IBC Bank-Austin’s new headquarters and is the first new downtown office tower in more than a decade.
“Our substantial investment in the IBC Bank Plaza building tangibly demonstrates IBC Bank’s deep commitment to ‘Do More’ for our customers and better serve the community,” IBC Bank Chairman Dennis Nixon said. “The IBC Bank Plaza will allow us to continue providing superior customer service in a state-of-the-art facility that maximizes convenience.”
“With the rapid growth of the downtown area, we believe the IBC Bank Plaza will be an important addition to the city, providing office and retail space in one of the most coveted areas of town,” IBC Bank-Austin President & CEO Bob Barnes said. “The location will offer unrivaled access for tenants and visitors, due to its unique position between Congress Avenue and the Whole Foods Market district.”
Designed by award-winning architectural firm, HKS, the building is designed to meet LEED Silver standards.
“The IBC Bank Plaza building is designed to be a mid-rise boutique office building that is flexible, efficient and sustainable,” HKS Design Principal Owen McCrory said. “The project’s architectural style combines a sleek, cutting-edge façade with a warm and inviting street-level presence, designed to engage the Austin ‘Great Streets’ program with its ground level restaurants, retail and elegantly landscaped streetscape.”
The building will rise 13 stories over street level, and include retail levels, a parking garage, and an office tower. It will also offer multiple balconies overlooking Republic Park, with Capitol views from upper floors.
“IBC Bank has been committed from the start of this project to deliver an extremely high quality building that incorporates a design which balances the needs of the evolving downtown Austin tenant base,” Endeavor Managing Principal Jamil Alam said. “Endeavor is honored to have been a part of such a strong project team, and to be affiliated with IBC Bank Plaza.”
IBC Bank and the developer for the project, Endeavor Real Estate Group, are currently leasing office space; for details, please contact Travis Dunaway or Jonathan Tate at 512-682-5500.
IBC Bank-Austin has been serving the state capital and surrounding communities since 2004 and has a retail branch network of 13 locations throughout the area, including Round Rock, Cedar Park, Leander, and Bastrop.
About IBC Bank-Austin:
IBC Bank–Austin is a division of International Bancshares Corporation (NASDAQ: IBOC), an $11.9 billion multi-bank financial holding company headquartered in Laredo, Texas, with 215 facilities and 339 ATMs serving 88 communities in Texas and Oklahoma. More information is available at www.ibc.com. Visit us on our YouTube channel, IBCBankWeDoMore. MEMBER FDIC / INTERNATIONAL BANCSHARES CORPORATION.
About Endeavor Real Estate Group:
Endeavor is a full service Austin, TX based commercial real estate firm that was founded in 1999. Endeavor is active in the acquisition and development of office, retail, urban mixed-use, industrial and self-storage, and has in-house leasing, management & tenant representation services. Endeavor’s noteworthy Austin projects include the Domain Phase I (retail), The Domain Gateway (office), Southpark Meadows (retail) and 1890 ranch (retail). Endeavor is currently developing a Whole Foods Market at the Domain, and in a joint venture with Columbus realty is developing 543 multi-family units at the Domain. Endeavor has announced plans to develop a high rise mixed-use project near 5th Street & Bowie in downtown Austin that will include 359 multifamily units, 43,000 SF of office space and 3,400 SF of retail.
The IBC Bank Plaza is scheduled to open in Austin in spring 2014.