Construction Commences on $3 Billion 66-Acre Master-Planned Mixed-Use Community in the Heart of Austin’s Second Downtown

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The master developer breaks the ground in phase one and renames the community to Uptown ATX

AUSTIN, Texas, December 13, 2021 (GLOBE NEWSWIRE) – Brandywine Realty Trust today announced that it will build its 3 billion family, retail, hospitality and a new Capital Metro Rail Station. The project, formerly known as Broadmoor and known for decades as “The IBM Campus”, has been renamed Uptown ATX, the largest traffic-oriented master-planned community in Austin. Phase one, One Uptown, a $ 328 million mixed-use project, is underway and is being developed in partnership with Canyon Partners Real Estate.

“We are excited to begin realizing the ultimate vision for Uptown ATX – one that will accelerate the establishment of this area as the second downtown Austin area. This community offers unmatched living and work experiences and is purposely designed to prioritize bold architecture, community connections, green spaces, pedestrian-friendliness and access to public transportation, “said Jerry Sweeney, President and CEO of Brandywine Realty Trust.

Uptown ATX is located in downtown Greater Austin and at the intersection of three major highways. In addition to the region’s existing multimodal transportation capabilities, Brandywine will partner with Capital Metro to introduce a new MetroRail station at the heart of the development.

“The transit experience – along with our 11-acre parks on our master plan and access to more than 23 miles of jogging and biking trails – makes Uptown ATX one of the most unique places in the country for community growth,” Sweeney continued. “One Uptown will set the standard of quality and design for what residents, workers and the community at large can expect from the Uptown ATX experience.”

To develop One Uptown, Brandywine has entered into a joint venture agreement with Canyon Partners Real Estate, the specialist real estate investment arm of Canyon Partners, a global alternative asset manager with over $ 27 billion in assets under management.

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“We’re excited to be working with Brandywine on such a transformative mixed-use project. Brandywine did an excellent job bringing his long-term vision to life, which fits well with Canyon’s focus on funding world-class development projects in high-growth markets like Austin, “said Robin Potts, Co-Head of Real. of Canyon Real Estate Investments and Director of Acquisitions.

Located on 5 acres, One Uptown will offer 348,000 square feet of Class A workspace, 341 apartment residences, 15,000 square feet of street-level retail, a six-story parking garage, and a public park. The 14-story office section, designed by Page Architects, includes work areas with 13-foot floor-to-ceiling glass windows, 44,000-square-foot flexible floor panels, and an 8,000-square-foot lobby with a cafe with both indoor and outdoor seating. The residential part designed by GFF Architects offers wide views with floor-to-ceiling glass windows, private balconies, individual lighting and high-end surfaces. The elevated 35,000-square-foot convenience deck includes a resort-style pool, 5,000-square-foot club room, and a 3,100-square-foot fitness center for residents and office workers.

With the core mission of ensuring the highest health and wellness standards – including the latest HVAC and elevator systems – One Uptown is aiming for LEED Silver certification and Austin Energy Green Building certification.

“As a transportation hub, Uptown ATX will have the unique ability to connect people to the exploding growth opportunities across central Texas,” said Bill Redd, executive vice president and senior managing director of Brandywine Realty Trust. “In establishing Uptown ATX as a new brand, we saw an opportunity to integrate connections with Austin – both physically and philosophically, including improved access to workplaces, affordable housing, green spaces, and living / work / play areas. This mixed-use community will be elegant, sophisticated, authentic Austin and accessible to all. “

As a master developer, Brandywine has put together an award-winning team consisting of Trammell Crow Residential, Page, GFF Architects, Lake | Flato Architects, Kimley-Horn, SWA / Balsley with Coleman & Associates – Landscape Architects, Lionheart Places, White Construction, Drenner Group , Blum Consulting Engineers, JLL and CBRE help bring the vision of Uptown ATX to life. The share placement was supported by Austin-based JLL Capital Markets group.

“Brandywine is leading an exceptional development team on this marquee project. We are excited to enter into this new partnership with Brandywine and further expand Canyon’s investment presence in the Texan markets, ”said Spencer Schlee, Senior Director of Originations for the Southwest Region at Canyon.

The office component of One Uptown is scheduled for delivery in the third quarter of 2023 and the apartment building component is scheduled for delivery in the second quarter of 2024.

For more information and leasing contacts, visit www.uptownatx.com and stay up to date on Instagram @uptownatx.

About Brandywine Realty Trust: Brandywine Realty Trust (NYSE: BDN) is one of the largest publicly traded, full-service, integrated real estate companies in the United States with a primary focus on the Philadelphia, Austin and Washington, DC markets. As a Real Estate Investment Trust (REIT), we organize, own, develop, rent and manage an urban, inner-city and traffic-oriented portfolio of 172 properties and 24.2 million square meters as of September 30, 2021, excluding assets held for sale. Our goal is to shape, connect and inspire the world around us through our expertise, the relationships we have, the communities we live and work in and the history we build together. For more information, please visit www.brandywinerealty.com

About Canyon partners: Founded in 1991, Canyon Partners Real Estate LLC® is the direct real estate investment arm of Canyon Partners, LLC, a global alternative asset manager with over $ 27 billion in assets under management. With 30 years of experience, Canyon has built a broad spectrum of real estate investment capacity spanning debt, value creation, and opportunistic strategies across property types, US regions, and project stages (including development, transition, and distressed / workouts). More information is available at: www.canyonpartners.com

Media contacts:
Brandywine Realty Trust: Laura Miller (laura.miller@bdnreit.com) / 610-832-7701
Canyon partner: Kris Cole (pro-canyon@prosek.com)

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