The Teacher Retirement System of Texas will join Internet job search company Indeed at a new 36-story office tower in downtown Austin when the project opens in 2021.
TRS signed a lease for 100,992 square feet of space in the building, which developer Trammell Crow Company has named Indeed Tower. The high-rise is under construction on West Sixth Street, between Colorado and Lavaca streets.
Rob Maxwell, a spokesman for the retirement system, said the system’s Investment Management Division, now at 816 Congress Ave., will occupy the new space.
That division had about 174 employees. Across TRS, the full-time headcount is 694 people.
“In the next few years, TRS will outgrow its current space which it has occupied since 2009,” Maxwell said in an email to the American-Statesman. “On a cost per person basis, the new space will be comparable to the current space investments staff occupy.”
Maxwell said TRS “can’t accurately predict what staffing levels will be at come move day.”
Maxwell said TRS also has offices and member services facilities at 1000 Red River St., “and continues to explore other long-term space planning solutions.”
TRS is the largest public retirement system in Texas. The system oversees a $145 billion trust and serves about 1.6 million Texas educators, both active and retired, and their beneficiaries.
Indeed Tower will be the tallest office building in downtown Austin, and will also have the most square feet of any Austin office project. Several residential towers in Austin — including the Austonian and the Independent — are taller.
The tower is rising on a site that is owned by the University of Texas System and being redeveloped by Trammell Crow in a joint venture with Principal Real Estate Investors.
The 709,000-square-foot tower will have amenities including a fitness center, conference center and outdoor terraces. The redeveloped site also will have retail and restaurant space, as well as a plaza with green space in the northwest corner.
Indeed has signed a lease for the top 10 floors of the tower — about 307,00 square feet. Indeed currently has 2,500 employees in Austin, and last year announced plans to add as many as 3,000 new jobs in Austin over the next several years.