Austin's tallest tower project begins construction; name revealed
The building's developers claim that once it is finished, the 74-story tower in downtown Austin will be the highest structure in Texas as well as Austin.
The mixed-use tower, which is expected to be 1,022 feet tall, has begun construction, according to its development partners Kairoi Residential and Lincoln Property Company. The skyscraper is the latest addition to the city's skyline-altering high-rise development boom in downtown Austin.
The project's name, anticipated launch date, and a new equity partner in the venture were all newly disclosed by the project's developers on Tuesday.
The tower's name, given by the builders, is Waterline. On 3.3 acres along Waller Creek and the Waterloo Greenway in the Rainey Street section of downtown, it will be constructed at 98 Red River Street. The high-rise is scheduled to open in four years, in late 2026, and will overlook Lady Bird Lake.
It will be taller than the 75-story JPMorgan Chase Tower (originally Texas Commerce Tower), which rises 1,002 feet above downtown Houston and is now the tallest structure in the Lone Star State.
The Independent, a 58-story residential skyscraper known as the Jenga Structure due to its offset design, is the tallest tower in Austin at the moment. About 690 feet tall, The Independent.
As previously stated, the Lincoln and Kairoi project will include a 251-room 1 Hotel Austin, 700,000 square feet of office space, and 352 apartments. The luxurious 1 Hotel brand from international hospitality giant SH Hotel Resorts, which stresses environmental elements, will open its first location in Texas.
The third downtown Austin high-rise that Lincoln Property has collaborated on and broken ground on in the previous three years is called Waterline. Another project being worked on by Lincoln and Kairoi is the 66-story, mixed-use Sixth and Guadalupe tower, which will debut the following year. There will be homes, offices, and ground-floor shops at Sixth and Guadalupe.
The CEO of Kairoi Residential, Michael Lynd Jr., said that Waterline would be "Austin's next iconic property." Kohn Pedersen Fox, an architectural firm whose resume includes the 55 Hudson Yards and One Vanderbilt skyscrapers in New York, is creating the tower. The 1.5-mile trail that connects the University of Texas campus to Lady Bird Lake, the Waterloo Greenway, will receive $1 million in enhancements, according to the developers.
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