A pair of buildings rising at Brooks mark a new phase in the redevelopment of the former Air Force base: They’re the first new class A offices — an industry term referring to top-of-the-line space — anywhere on the city’s Southeast Side.
mark a new phase in the redevelopment of the former Air Force base: They’re the first new class A offices — an industry term referring to top-of-the-line space — anywhere on the city’s Southeast Side.
WatersEdge will include balconies, outdoor seating and 1,100 parking spaces. About a quarter of one building will be occupied by Brooks Development Authority, which owns and manages the former Air Force base.Leo Gomez, president and CEO of the Brooks Development Authority, listens during a groundbreaking ceremony for WatersEdge at Brooks.
The office market in the area now is “almost non-existent” save for scattered small buildings, said executive managing director Russell Noll. “Our belief is there’s pent-up demand.” The Dallas-based company has provided capital for other projects at Brooks through taxable and tax-exempt bonds and opportunity zone equity and tax-exempt bonds. That includes an Embassy Suites hotel, Amazon delivery station and infrastructure improvements.Preston Hollow is also working on 450 single-family rental units, which will replace 163 rental units originally built as officers’ quarters for the base in 1962.
The land at Brooks is exempt from property taxes and is among 24 local census tracts designated as an opportunity zone.
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