Luxe Austin Homes - Rainey Street District

"The Modern Austin Residences Tops Out in the Rainey Street District"

Posted by Grossman & Jones Group on August 1st, 2024

Towers Austin shares, "The 56-story Modern Austin Residences condo tower project celebrated its official “topping out” this week, with the building now reaching its maximum structural height of 658 feet at the northeast corner of Davis and Rainey Streets on the north end of the Rainey Street District in downtown Austin. It’s just one of multiple tower projects currently redefining the skyline of this neighborhood, which already contains the densest residential population in downtown and is set to gain hundreds more homes in the years to come — including 320 new residences at the Modern, with 21 of those condos income-restricted under the district’s affordable housing requirements.

The tower’s topping off obviously represents a milestone for the…

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"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…

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"For Pearlstone Partners, $700 million in new investment is on tap for Austin market"

Posted by Grossman & Jones Group on September 22nd, 2023

Austin American-Statesman writes, "Pearlstone Partners is doubling down on its commitment to growing in Austin.

Over the next three years, the Austin-based real estate investment firm said it plans to add three new projects totaling upwards of $700 million to its expanding portfolio. The new developments will further redefine the skyline and urban living in the city, Pearlstone officials say.

The privately held Pearlstone — one of the largest providers of for-sale housing in and near downtown Austin —already has invested about $500 million in two completed residential projects and three that are under construction.

Now, it is seeking capital partners for three future projects. The planned projects will add an additional $700 million to…

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