KREA LLC, the property owner of a Domain-area apartment complex in Austin, has announced plans to transform The Studio Domain into a mixed-use development. This redevelopment project will include 350 multifamily housing units and 210 hotel rooms on the 3.07-acre lot located at 2700 Gracy Farms Lane. Additionally, there will be approximately 20,000 square feet of ground-floor retail space.
Under the previous zoning regulations for this area, buildings could only reach up to a height of 60 feet. However, with updated zoning guidelines under the North Burnet-Gateway plan in place and with a development bonus applied according to official documents from KREA LLC., developers are now permitted to construct buildings as high as 350 feet.
Accordingly reported by Community Impact , this change allows for increased building density on the property and serves as an important connection between residential areas surrounding The Domain and commercial activity within it.
