University of Texas System to build $102 million headquarters downtown
AUSTIN - The University of Texas System plans to construct a $102 million headquarters in downtown Austin that would accommodate about 550 employees currently scattered among five buildings, officials told the Statesman on Thursday.
The plan essentially mirrors one that was shelved in December 2012 when state lawmakers questioned it on the eve of a tight-budget legislative session. This time, UT System officials say, they have briefed legislative leaders and their staff members more thoroughly and have not encountered objections.
Under the plan, the system would lease or raze the five downtown buildings it currently occupies and construct a 15-story headquarters on the north side of West Seventh Street between Colorado and Lavaca streets. System employees, who oversee and assist nine academic and six health campuses, would occupy 200,000 of the building’s 258,000 square feet, with the remainder leased for offices and retail shops.
Studies show that consolidating into one building would save more than $125 million during the next 30 years, said Scott Kelley, the system’s executive vice chancellor for business affairs.
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