The Domain (Austin, Texas)

Infobox_shopping mall
shopping_mall_name = The Domain


caption =
location = Austin, Texas, USA
opening_date = 2007
manager = Simon Property Group, Endeavor Real Estate Group
number_of_anchors = 2
number_of_stores = 71 (including committed tenants)
floors = variable; most tenants single story
owner = Simon Property Group
website = [http://www.simon.com/mall/default.aspx?ID=1207 The Domain @ simon.com]

The Domain is a high-density business, retail, and residential center operated by Simon Property Group and Endeavor Real Estate Group, and is located in the high-tech corridor of northwest Austin, Texas. It is bordered on the west and north by Loop 1, on the south by Braker Lane, and on the east by the Austin IBM campus. The project was completed in March 2007.

Initial development

The initial Domain site consists of 57 acres and stands on the former site of Century Oaks Park, a multi-purpose recreational facility for IBM employees and their families. The park was so named for the century-old trees contained within. The land was purchased from IBM, and demolition of the park began in 2004.

Additional land for The Domain is being reclaimed from vacant IBM manufacturing and administrative buildings, as well as driveways and parking lots that were once part of the original IBM campus.

The developers were granted tax subsidies in 2003 from the City of Austin and Travis County. Total developer compensation is a maximum of a net present value of $25 million. The developer keeps 80 percent of the city's sales tax for the first five years and 50 percent for the next 15 years. Plus, 25 percent of the property tax is rebated back to the developer for the entire 20-year period. [ [http://www.ci.austin.tx.us/agenda/2003/downloads/051503004.pdf Recommendation for Council Action #1705, Agenda Item No. 4 (PDF)] , City of Austin, May 15, 2003.] The city of Austin expects to take in about $40 million in sales and property taxes over the 20 years of the incentive agreement. [ [http://www.statesman.com/news/content/business/stories/other/03/04/4domain.html City leaders banking on the Domain] , "Austin American-Statesman", March 4, 2007.]

First phase

The first phase of the project, The Domain, opened on March 9, 2007, and includes convert|700000|sqft|m2 of restaurants, office space, upscale retail stores, apartments, and a hotel. [ [http://www.statesman.com/business/content/business/stories/other/02/27/27domain.html Domain dwellings have an upscale address] , "Austin American-Statesman", February 27, 2007.] The retail portion of the project has attracted many retailers and restaurants new to the Austin market. An convert|80000|sqft|m2|abbr=on. Neiman Marcus and a Macy's anchor (with Macy's fulfilling an earlier commitment by Foley's), along with 70 specialty stores, including an Apple Store, a Barneys New York CO-OP store, Burberry, Victoria's Secret, Tiffany & Co., BCBG Max Azria, Calypso Christiane Celle, Anne Fontaine, Lacoste, Lilly Pulitzer, Betty Sport, and a Borders Group bookstore. The shopping center notably is also one of the short list of locations containing outlets for two new store concepts — Abercrombie & Fitch Co.'s RUEHL 925, targeting affluent young professionals, and American Eagle Outfitters' adventure-oriented Martin + Osa. Restaurants include Brio Tuscan Grill, Martini Park, McCormick & Schmick's, Daily Grill, [http://www.jaspers-restaurant.com/austin Jasper's] , [http://www.konagrill.com/ Kona Grill] , [http://www.thesteepingroom.com The Steeping Room] , & California Pizza Kitchen. [ [http://www.statesman.com/business/content/business/interactive_sm/03/030107_domain.html?imw=Y Whats in store at the Domain?] , "Austin American-Statesman", March 1, 2007.] Napa Valley, California-based Oakville Grocery, a 125-year-old gourmet specialty food and wine retailer, has also signed a lease for a specialty grocery store. [ [http://austin.bizjournals.com/austin/stories/2007/01/08/daily22.html?surround=lfn Napa Valley grocer heading for The Domain] , "Austin Business Journal", January 10, 2007.] [ [http://www.statesman.com/business/content/business/stories/other/01/12/12austininc.html Austin Inc.] , "Austin American-Statesman", January 12, 2007.]

econd phase and additional expansion

The second phase, Domain Crossing, will be located directly south of The Domain and open in spring 2008. [ [http://www.statesman.com/business/content/business/stories/realestate/03/02/2domain.html Details firming up for Domain Phase II] , "Austin American-Statesman", March 2, 2007.] Domain Crossing adds an additional convert|350000|sqft|m2 of retail stores, restaurants, and apartments, as well as a theater and other entertainment options. [ [http://www.statesman.com/search/content/news/stories/local/02/24/24domain.html Developer plans minicity for second phase of the Domain in North Austin] , "Austin American-Statesman", February 24, 2007.]

Simon Property Group announced that a convert|200000|sqft|m2|abbr=on, three-story Dillard's would open during spring 2009 in the primary portion of the project. [ [http://www.statesman.com/business/content/business/stories/other/05/19/19dillards.html Dillard's to open fifth Austin store at Domain] , "Austin American-Statesman", May 19, 2007.] Nordstrom signed a letter of intent for a two-story, convert|149000|sqft|m2|sing=on store to open in The Domain by 2011. [ [http://www.statesman.com/business/content/business/stories/realestate/03/15/15domain.html Nordstrom plans 2nd store in Austin] , "Austin American-Statesman", March 15, 2007.] [ [http://www.bizjournals.com/austin/stories/2007/03/12/daily29.html?from_rss=1 Nordstrom signs on at The Domain] , "Austin Business Journal", March 15, 2007.]

Opposition

Brian Rodgers, leader of Stop Domain Subsidies, sued the City of Austin and Endeavor Real Estate Group in 2004, claiming Endeavor purposely mislead the city in order to receive what he argued amounted to $65 million in tax subsidies. The suit was settled out of court, with the settlement allowing the City of Austin to back out of deal with no penalties. [ [http://www.stopdomainsubsidies.com/background.php] , "Stop Domain Subsidies Background", December 21, 2007.]

"Stop Domain Subsidies" launched a petition drive in 2007 to put an initiative on the city ballot to stop the city from granting any city tax subsidies for developments with retail uses. [ [http://www.stopdomainsubsidies.com] . "Stop Domain Subsidies",December 21, 2007.] The charter amendment, which would prevent the city from giving tax incentives to retail projects, now appears on the ballot for the November 2008 election as Proposition 2. A political action committee named "Keep Austin's Word" was started in September 2008 by Betty Dunkerley, a former member of the Austin City Council. [cite web |url=http://www.statesman.com/news/content/news/stories/local/09/11/0911urban.html |title=Opponents square off over tax amendment |date=2008-09-11 |publisher=The Austin American-Statesman |accessdate=2008-10-02]

References

External links

* [http://www.thedomainaustin.com/ The Domain Austin]
* [http://www.urbanaustin.org/index.php/The_Domain_&_Domain_Crossing The Domain & Domain Crossing: Urban Austin Wiki]
* [http://www.simon.com/mall/default.aspx?ID=1207 Simon Property Group: The Domain]
* [http://www.ci.austin.tx.us/zoning/downloads/nbg_aerial_projects.pdf North Burnet Planning Area Map (PDF)]
* [http://www.stopdomainsubsidies.com Stop Domain Subsidies]
* [http://www.keepaustinsword.com Keep Austin's Word]