Mikala Compton

Austin American-Statesman reports, "the new year will bring new skyscrapers to downtown Austin.

In the past two decades, downtown has seen an unprecedented high-rise building boom that has transformed the city's central business district with towering condominium, apartment and office buildings along with hotels and scores of new shopping, dining and entertainment options.

Even as downtown's office market has languished as remote work has taken hold since the coronavirus pandemic, people still want to live in the center of the action, and that's keeping downtown's housing, retail and restaurant sectors bustling.

“With falling interest rates and strong population/job growth, I am quite optimistic that the downtown Austin condo market will see a solid year of sales and appreciation in 2024," said Kevin Burns, a real estate broker who specializes in downtown condo sales and development. "This is following a subpar year of sales in 2023 due to global market issues and high interest rates.”

Burns is a co-developer of The Modern, a high-rise residential tower now under construction in the Rainey Street District on downtown's eastern edge.

Burns' tower is among multiple high-rise towers under construction, some of which are due to open in 2024. Those include:

Sixth and Guadalupe

At 66 stories, Sixth and Guadalupe will be the tallest completed building on the Austin skyline to date, although a taller one is under construction in downtown Austin that will rise 74 stories and be the tallest in all of Texas.

The project, which will be 875 feet tall when completed, will have 349 luxury apartments, along with retail and office space. Called the Residences at 6G, the apartments will have 360-degree views from the building's top 33 floors and pool decks on levels 34 and 66.

The first residents are scheduled to move into their units in late January or early February, said Tony Curp, senior vice president of development for Kairoi Residential, which is developing the tower with Lincoln Property Co.

Chef and entrepreneur Kimbal Musk will open the first Austin location of his American bistro, The Kitchen, in the building. Kimbal Musk is the brother of Tesla CEO Elon Musk.


Located at 84 East Avenue in the Rainey Street District, the 41-story Vesper is due to be completed in the second quarter of 2024. The building will have 284 condos.

The developers are Austin-based Pearlstone Partners and New York-based ATCO Properties and Management.

The Linden

The Linden. This 28-story tower will welcome its first residents in January, said Bryan Cady, co-founder and broker of DEN Property Group. Cady said about 80% of the units are sold.

The remaining one-bedroom residences start in the low $700,000s; two-bedroom residences start at $1.1 million; three-bedroom residences start at $1.65 million; and two-story penthouses start at $5.15 million.

Symphony Square

This project consists of an apartment tower, an office building and retail space on Red River Street downtown.

The apartment high-rise, called The Waller, will rise 32 stories and have 388 rental units. The office component will have 170,000 square feet of office space, and there will be 4,000 square feet of retail space.

Hanover Brazos Street

The first residents moved into this 45-story apartment tower in September. With 308 units, the tower is more than 25% leased."


Source: Austin American-Statesman

Written by: Shonda Novak

Published: December 26, 2023


Posted by Grossman & Jones Group on


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