Delta Austin | Hotel + 1.196M SF Development
Delta by Marriott Austin | University District Fully Renovated Marriott Hotel + Entitled Development
Marketing description
Nevarez Group of Marcus & Millichap is pleased to exclusively present a premier hospitality and mixed-use development opportunity in Austin, Texas. The offering consists of a 264-key hotel currently undergoing a comprehensive redevelopment into a lifestyle-driven Delta by Marriott, featuring enhanced guest amenities, expanded food and beverage offerings, and a destination pool club concept inspired by Las Vegas-style hospitality experiences.
The true differentiator of this opportunity is the adjacent fully entitled development site. Ownership has secured CH-PDA zoning approvals allowing approximately 1.378 million square feet of development rights with a 200-foot height allowance. After accounting for the hotel footprint, approximately 1.2 million square feet of remaining development capacity exists for multifamily, student housing, retail, entertainment, hospitality, and mixed-use development.
Located less than two miles from The University of Texas at Austin and positioned within one of the fastest-growing markets in the United States, the property offers investors the rare ability to acquire a newly renovated Marriott-branded hotel while controlling a large-scale entitled development platform with multiple phased development and exit strategies.
This unique investment combines immediate hospitality value with long-term development upside, creating an exceptional opportunity for hotel investors, multifamily developers, institutional capital, family offices, and EB-5 groups seeking exposure to the continued growth of the Austin market.
Investment highlights
- A newly renovated Marriott-branded hotel
- Significant entitled multifamily development density
- Prime Austin freeway frontage and visibility
- Strong surrounding demand generators
- Exceptional long-term appreciation potential
- Multiple exit strategies and phased development opportunities
- Ownership successfully entitled the site for CH-PDA zoning, allowing approximately 1.378 million square feet of zoning floor area with a 200-foot height limitation.
- The existing hotel is undergoing a transformative renovation into a Delta by Marriott lifestyle hotel concept with extensive upgrades to guestrooms, public spaces, meeting areas, exterior improvements, and amenities.
- The remaining development rights allow for approximately 1,200 residential units, depending on final unit mix and design configuration.
- The project includes a unique daytime pool club concept designed to activate the property and create a destination-oriented hospitality experience.
- Located directly at the intersection of Interstate 35 and US-290 with immediate access to Downtown Austin, The University of Texas, Moody Center, Dell Medical District, and Austin-Bergstrom International Airport.
- Austin continues to attract major corporate relocations and expansions from Tesla, Oracle, Samsung, Apple, Google, Meta, Amazon, SpaceX, and numerous technology companies.
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