Austin’s “city bird” — the construction crane — has been diligently at work on a 49-story residential high-rise in the Rainey Street area.
The Covid-19 pandemic isn’t slowing down construction, or unit sales, at 44 East, said local developer and condo salesman Kevin Burns. About half of the building’s 309 units have already been sold, according to Intracorp Texas President Brad Stein. The framework for the first 14 floors has already been built.
44 East Ave is being developed by Intracorp Projects Ltd. Flintco is the general contractor and Urbanspace, where Burns is CEO, is overseeing condominium sales. Vancouver-based Intracorp secured a $194 million construction loan for the project in May.
44 East Ave is one of the few residential towers under construction in downtown Austin. Right next door, Pearlstone Partners’ Natiivo recently topped out at 33 stories, although the 249 units in that building cater to short-term rentals.
Also under construction in the Central Business District are The Hanover, a 44-floor apartment building at Fifth and Lavaca streets, and 6 X Guadalupe, a 66-floor building that will combine residential units and office space at Sixth and Guadalupe streets.
Austin Business Journal got a sneak peek of 44 East Ave, which is in the southeast corner of downtown and adjacent to Lady Bird Lake. The building’s first 10 floors are for parking; floors 11 through 49 are where the amenities and living spaces are offered.
The 11th floor — the first non-parking level — is where many of the building’s amenities will be found, such as a swimming pool, dog park, yoga space, lounge, and clubhouse. Each side of the building offers a unique view of Lady Bird Lake or downtown Austin.
44 East Ave is expected to fully open at some point in 2022.
Intracorp and Urbanspace, according to Stein, have helped raise money for local nonprofit The Trail Foundation. More than $800,000 in contributions have been raised for the foundation, which is seeking $1.5 million total to help pay for upgrades to the trail network between 44 East and Lady Bird Lake.
Condominium units will be available in one-, two-, three- and four-bedroom sizes. Prices start in the $300,000 range for a one-bedroom, in the $600,000s for a two-bedroom, at $1 million for a three-bedroom and $2.8 million for a four-bedroom. The 44 East Ave’s sales office is at 401A W. Third Street.
44 East Ave is one of several towers either planned or being built in that part of downtown. See this recent story for an update on two of the newest plans to hit the desks of city planners.