The Independent is Named the Top Multifamily Project
in ABJ’s 2020 Commercial Real Estate Awards
Category: Multifamily development
Companies involved*: Buyer broker: Constructive Ventures
Seller brokers: City of Austin (land sale), Urbanspace Real Estate + Interiors (condo sales)
Lead developers: Aspen Heights, CIM Group
General contractor: Balfour Beatty
Primary architect: Rhode Partners
Primary MEP: Garza Bury
Landscape architect: Studio Balcones
Interior designer: Rhode Partners
Civil engineer: Urban Design Group
Structural engineer: LAM+DCI
Title companies: Heritage Title (land sale); Heritage Title and Stewart Title (condo sales)
Financiers: CIM Group, Bank of the Ozarks
Law firms: Dubois Bryant & Campbell LLP, Winstead PC
* all information provided by nominator
Why it won: The Independent tower’s Jenga-like design marked a welcome addition to the downtown skyline when it was completed in 2019.
Austin’s tallest tower at 58 stories, The Independent has also turned heads with its unique crown — which is now illuminated at night to give the tower a special glow at all hours of the day. There’s enough intrigue in The Independent that the story of it’s design and construction has been featured in a Science Channel program called “Impossible Engineering.”
And the hits just keep coming: The Independent has now been honored with a 2020 CREA Award for a new or rehabbed multifamily development.
The Independent features 363 condo units across 950,000 square feet while resting upon just 1.7 acres, maximizing the land and taxable value. The $300 million-plus project has helped the city of Austin reinvigorate a portion of downtown that has gone from hosting power and water plants to towering, new buildings that welcome people day and night.
Aside from its architectural prowess, The Independent has met LEED Gold certification standards for environmental efficiency and sustainability — its application for official LEED Gold certification is currently pending.
What’s more, project co-developers Aspen Heights and CIM Group contributed more than $1 million to various funds that helped improve the infrastructure and beauty of the area.