701 Rio

About the Project

Real Estate Development


Austin-based ownership group Investor’s Alliance and RPM Living hired Hensel Phelps Real Estate Development to act as their Development Manager under a Development Management Agreement.




The 701 Rio project is a five-story office building located at the corner of Rio Grande and 7th Street in the downtown Central Business District of Austin. The project site is in a historic neighborhood near the State Capitol Building and parallel to the well-known entertainment district, West 6th Street. The 701 Rio project consists of four floors of Class A office space with the opportunity for ground-floor retail and/or additional office space. The 124,206 gross SF office building contains five levels of underground parking, allowing for up to 296 parking stalls (or a parking ratio of 3 stalls/1,000 RSF). Building amenities include a fitness center, lockers, showers, bike/scooter storage, a 6,418 SF rooftop terrace and an Austin Energy Green Building 1 Star Rating.

Quick Facts

  • Location Austin, TX
  • Client BCPF Rio Office LLC
  • Industry Commercial
  • Line of Business Real Estate Development, Construction
  • Delivery Method CM at Risk
  • Completion Date 07/13/2021
  • Contract Value $ 38,500,000
  • Square Footage 253,000 SF

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