Transforming tech space From the cover
Highpoint 2222
What’s happening?
FOUR POINTS DR.
• 2017: 3M sells property to World Class Capital Group • 2019: 3M vacates campus, relocates to Parmer Austin • 2021: Karlin acquires property from World Class Capital Group • TBD: Karlin to propose zoning changes, acquire tenants
2222
Investment firm Karlin Real Estate is looking to transform two former 3M campuses in Northwest Austin into mixed-use communities with multifamily, retail, green space and more. Manufacturing and tech company 3M, now operating out of Parmer Austin, previously occupied a 57-acre campus off Research Boulevard that was later rezoned to allow for mixed uses. 3M’s former River Place Boulevard site was purchased by Karlin in 2021 and is now known as Highpoint 2222. Members of the 2222 Coalition of Neighborhood Associations, or 2222 CONA, say Karlin could seek more than 50 new land use types to build out the property. This move is in line with Austin’s climbing land values and construction prices, which makes land development difficult, said Max McDonald with real estate company Aquila Commercial. “It causes you to have to get creative with what you put there,” McDonald said.
MCNEIL DR.
RIVER PLACE BLVD.
BONAVENTURE DR.
SITIO DEL RIO BLVD.
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SOURCE: 2222 COALITION OF NEIGHBORHOOD ASSOCIATIONS/COMMUNITY IMPACT
Duval
• 2019: 3M closes campus, moves manufacturing operations to Minnesota • 2021: Karlin acquires property • 2025: Austin City Council approves Zoning and Platting Commission’s rezoning recommendation to add a mixed-use overlay to existing industrial zoning
183
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SOURCE: CITY OF AUSTIN/COMMUNITY IMPACT
The features
Development specs
Karlin is seeking a variety of mixed-uses at Highpoint 2222, which could include:
Negotiations with Karlin officials regarding spe- cific features of the development are still ongoing, which Bailey said will conclude with both parties signing a legal agreement outlining land uses. 2222 CONA could ask for things beyond the zoning code, such as additional trails, parks or other community benefits through the agreement, Bailey said. “We have about half of the terms agreed on, and we still have about half to go,” Bailey said.
The 154-acre Highpoint 2222 property already has a redeveloped corporate campus that was com- pleted in 2024. Representatives for Karlin declined to comment on future plans, but the development’s website states the campus has existing infrastruc- ture to support tech and life science tenants. On the rest of the property, 2222 CONA President Linda Bailey said the community has responded positively to Karlin’s plans to build retail, and both they and Karlin are interested in having a variety of housing options.
1.1 million square feet of office and lab space, already delivered Up to 65,000 square feet of retail possible Up to 1,250 multifamily homes reaching 4 stories possible
Up to 9 acres of green space possible
SOURCES: 2222 CONA, HIGHPOINT 2222/COMMUNITY IMPACT
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