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Tech giant Oracle to build massive campus in Austin

AZUL Lakeshore

AZUL Lakeshore

Oracle Corp. disclosed plans Tuesday to build a 560,000-square-foot campus along Lady Bird Lake in East Austin to focus on cloud computing technology — and has acquired a 295-unit apartment building nearby to house some of its workers.

In setting up the new Austin campus, the California tech giant plans to increase the number of local employees by 50 percent. Company officials declined to disclose the number of local workers and no timeline was given for construction of the project. The Greater Austin Chamber of Commerce reports that Oracle already employs about 1,100 people here.

The move to acquire the 295-unit apartment complex — The Azul Lakeshore Apartments, on 2.6 acres at 1201 Lady Bird Lane — is an indication of the tight and competitive job market, in particular when so many local tech companies are courting the millennial employees Oracle is going after.

Separately, Oracle has also completed a deal to acquire Austin software firm StackEngine Inc.

Scott Armour, senior vice president of Oracle Direct, said the campus will mostly include millennial sales and marketing workers. Oracle operates four offices in Austin and 10 in Texas, officials said Tuesday.

Oracle, which closed on the land deal early Tuesday morning, plans to collaborate with local firms to build the campus on the 27-acre site to consolidate it with a company facility in Oregon. At 560,000 square feet, the campus would be a bit larger than the Frost Bank Tower downtown, which offers 525,000 square feet. Oracle’s new site is in a rapidly changing part of East Austin near downtown between South Lakeshore Boulevard and Elmont Drive,according to the Austin American-Statesman.

Part of the Oracle site was the former home of the Lakeview Apartments, Patch.com reports. The apartments were demolished earlier this year, the Austin Chronicle reports, after CRV Shoreline LP filed a permit with the city. CRV Shoreline LP is a limited partnership affiliated with apartment developer Cypress Real Estate Advisors, which sold the land to Oracle.

Click to read entire article: Tech giant Oracle to build massive campus in Austin (Austin Business Journal, 12-22-15)

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