The Independent

When conceptualizing The Independent, CIM set out to create a distinctively Austin landmark that expanded downtown housing options for a growing population of upwardly mobile professionals. Our understanding of the local market and history of investing in the Austin community positioned us to execute a standout project that complemented the city’s character.

‍

Investing in Austin

For nearly two decades, CIM has developed, owned and operated real estate in Austin. Projects span a range of sectors and include the Seaholm Power Plant mixed-use redevelopment, the Penn Field office camp us, the apartment community District at SoCo, and the Fifth + Tillery, Eastside Village and 1300 E 5th office projects.

‍

From 2010 through 2014, the Austin metro added over 134,000 new jobs and more than 227,000 people, ranking it among the fastest-growing metros nationally.¹ The city’s thriving economy and influx of young, educated workers moving into the city was on pace to continue. In 2014, our Seaholm Residences project represented the city’s only new condominium supply since 2010. Amid the significant growth and limited supply, we saw demand soar for residences in the downtown area.

Uncovering Potential

Following our transformational $210 million investment in the Seaholm Power Plant mixed-use project in 2015, the Seaholm District at the western edge of downtown Austin quickly emerged as a new epicenter of downtown, thanks in part to its easy access to nearby amenities, jobs and restaurants.

‍

During the same year, we acquired another plot in the area that was ripe for redevelopment. Our team cast a vision to develop an iconic residential tower in the heart of the Seaholm District inspired by Austin’s bold and innovative spirit.

‍

In early 2016, our team commenced site preparation and foundation work for The Independent. We completed the tower’s vertical construction in May 2018.

‍

Recognizing an Austin Landmark

The Independent features 363 condominium homes along with over 20,000 square feet of amenities. Nicknamed the “Tetris building” or “Jenga tower” by locals, this glass-clad, stacked high-rise is an architecturally distinctive feature in Austin’s skyline.

‍

We designed The Independent to make the most of the location and appeal to area professionals. Features include:

‍

• Floor-to-ceiling windows offering sweeping views of the State Capitol, Lady Bird Lake, Shoal Creek Greenbelt, Texas Hill Country, and downtown
• Premier interior finishes and 10-foot ceilings
• Patios or balconies in each residence
• Amenities including a dog park/lounge, children’s play area, in-ground pool, fitness space, spa area, theatre, conference rooms and more

‍

Our in-house team accessed extensive development expertise and deep understanding of the Austin community to create a truly distinctive project. The Independent was immediately well-received, and the residences sold out quickly.

‍

Today, The Independent is a recognized downtown feature that supports Austin’s practical need for more housing while paying homage to the character of this vibrant and creative city.