Luxe Austin Homes - pearlstone

"The Vesper Condo Tower Wraps Up in Downtown Austin’s Rainey Street District"

Posted by Grossman & Jones Group on April 25th, 2024

TOWERS writes, "The 41-story Vesper condo tower is now complete in the Rainey Street District of downtown Austin, with its first phase of move-ins kicking off this week. According to developers Pearlstone Partners and sales agency Prospect Real Estate, the building is currently 67 percent sold. The 452-foot tower broke ground in the summer of 2021, situated on a small 0.4-acre site at the edge of the neighborhood at 84 East Avenue, pretty tightly hemmed in on three sides by the Camden Rainey Street apartment building and a famously garish Homewood Suites. 

It’s just one of a forest of towers now rising in the Rainey District, with the perspective of the aerial shot below showing not one, not two, not three, but four separate tower projects underway…

179 Views, 0 Comments

"Pearlstone envisions denser Austin, forges ahead with $700M in urban housing"

Posted by Grossman & Jones Group on September 12th, 2023

Austin Business Journal writes, "amid a year of muted activity for commercial real estate development, Pearlstone Partners LLC is betting big on the continued allure of Austin — it has three new projects up its sleeve that could total about $700 million in construction costs. That's on top of Robert Lee and his team forging ahead on three under-construction projects expected to deliver from early 2024 through 2025.

The Austin-based company just unveiled details on three multifamily communities planned to rise on prime sites, spread from Rainey Street to the northwest side of the Central Business District. All three are still in the investment phase, meaning they may not deliver for a few years.

Demand for housing has slowed across the board in…

301 Views, 0 Comments

48-story condo tower planned for Austin's Rainey Street district

Posted by Grossman & Jones Group on July 15th, 2022

An Austin-based developer plans to start construction next year on a 48-story residential tower in the Rainey Street district on downtown Austin’s southeast side. The proposed high-rise would add to the ongoing building boom in the Rainey Street area, and in downtown in general. 

Pearlstone Partners plans to build the tower on two adjacent tracts that span from 62 East Ave. to 64 East Ave.  Although plans are still preliminary, Pearlstone executives say they envision a tower with 48 stories and 245 condominium units, although those numbers “could all very much change as we move through the design process,” said Chris Zaiontz, a Pearlstone senior vice president and principal.

The project still needs to wind its way through the city of Austin’s…

430 Views, 0 Comments