ABoR Completes Plans for New Headquarters
- Sep 09, 2013
The almost 9,000 members of the Austin Board of REALTORS (ABoR) have a new headquarters to look forward to in the future. ABoR announced its plans to start construction on a facility that will entail approximately 33,000 square feet on 5.2 acres.
ABoR’s Chairman, Cathy Coneway, said in a press statement, “We’re thrilled to announce the plans for our new facility. ABoR’s members are technologically savvy and highly mobile. Our new building will be dedicated to giving them the member services they expect along with the technology and educational resources they need to serve consumers.”
The new building is valued between $11 million and $13 million and will include three auditoriums, several conference rooms, a member lounge, a computer lounge, staff offices, and one custom-designed room for members to meet with clients, take calls, and lead property closings and other types of work. All educational classrooms in the new headquarters will be equipped with video technology. One important aspect is that the building will be green certified by the city and will be environmentally friendly, reports the Austin Business Journal, and the reception area is already being built using lumber from the old Spaghetti Warehouse downtown.
The location for the new ABoR is 4800 Spicewood Springs Road, a place where Coneway hopes, “Not only will members be able to work and learn in the new space, but they will also be able to stop by the member lounge where they can take a break between classes and enjoy the views of Austin’s rolling hills. We want this to be a place where members can network with peers and recharge themselves and their mobile devices.”
The new investment strategy comes as result of the market shift—for years it has been more profitable to lease than own, explains Jay Gohil, Chair of the Facilities Task Force, but “now it’s time to buy.” The ground breaking is scheduled for September 12, allowing the members to move into the new building in December 2014.