Employee Retirement System - Office Building
Broaddus & Associates served as the owner’s representative to the Employees Retirement System of Texas (ERS) for the development and construction of a landmark office building project in Austin, TX. ERS manages benefits for employees and retirees of State of Texas agencies and some higher education institutions. Over the past several years, ERS has conducted studies evaluating how to increase their office space and make effective use of its headquarters building site, which occupies a full block in the northeastern corner of the Texas Capitol Complex. As a result, ERS constructed a 207,000–SF mixed-use office and retail building on its block, retaining the site’s existing office building but demolishing a smaller annex structure to make room for the new development.
The new 9-story building includes 190,000 SF of office space, 15,000 SF of ground-floor retail, and four levels of parking (including one underground level). ERS plans to utilize approximately 10% of the new tower and lease the remaining space to earn an investment return for the ERS Trust in the high-demand office space market of downtown Austin. Broaddus & Associates began serving ERS in the evaluation and procurement phases, and our full-time project management team served on the project site during construction, which was completed in 2020.