6903 E RIVERSIDE DR Austin TX 78741

6903 E. Riverside is a 0.257 acre corner lot located on the intersection of Maxwell and East Riverside. The East Riverside Corridor has quickly materialized into one of the most sought after development regions in the City of Austin given its proximity to Downtown Austin, unparalleled access to major transit corridors, major employer hubs (Oracle, Cypress Semiconductor) and highly favorable zoning enacted to encourage density throughout the corridor.

The site is located within a 10 minute drive of Downtown Austin, East Austin, Rainey Street, and South Congress. Apartment developers have been highly active, delivering more than 2,000 units in the submarket since 2010 and with in excess of 1,000 units in the pipeline. Major developments have followed Oracle’s HQ move (Phase I consisting of 560,000 square feet of office space, planning to support 3,000 employees and a total investment of $300 million) – which was followed with a 15.9% growth in submarket office space since delivery in Jan 2018.

Furthermore, Hines/Presidium have recently begun pre-leasing for a 500K square foot Class AA office building just south of the Oracle Campus and Lenox Boardwalk Apartments. While still highly speculative, documents for the redevelopment of the Ballpark apartments and adjacent land parcels (“Project Catalyst”) requested a development potential of “nearly 5,000 apartment units, 600 hotel rooms, 4,000,000 SF of office space and over 400,000 SF of retail space”.

6903 E. Riverside is zoned Neighborhood Mixed Use (ERC-NMU), allowing for a maximum buildable height of 50 feet with no front/interior/rear yard setbacks. The use allows for 80% impervious cover, a 1:1 floor-to-area ratio, and various uses including attached residential, retail under 50,000 square feet, office space, hospitality, and approved combinations of these uses.