AUSTIN, Texas — Part of Downtown Austin’s skyline will soon start to look a little different.
Vancouver-based developer Intracorp said they expect to break ground on 44 East Avenue in October, with completion in mid to late-2022.
The 49-story tower will feature more than 300 condos. According to the 44 East Avenue website, those will include one to four-bedroom condos with floor plans ranging from 500-square-feet to 3,500-square-feet.
The site describes the tower’s location as, “At the foot of Rainey Street. On the edge of Lady Bird Lake.”
The developer said Austin’s rapid growth means the city needs more towers like these to make the most of the space set aside for housing.
“So these are the types of developments we need to keep people here, whether they’re visiting or whether they live here,” Brad Stein, with Intracorp Texas, said.
Prices for the condos will start in the upper $300,000 range for a one-bedroom unit and the most expensive units will cost about $4 million.
The developer also complimented Austin’s growth and combination of urban life with outdoors and said those are reasons why a tower like this could do well.
“The expanding Austin economy and the need for good residential housing were the factors that made Intracorp wanna do business in Austin,” Stein said. “Just the connection from the urban to the natural – happens right here at this corner.”
The tower will also have retail space on the ground floor.
Stein said Intracorp with working with The Trail Foundation on potential improvements to Waller Beach Park at the corner of Cummings Street and East Avenue, as part of the Rainey Street Trailhead Project.
“We are providing funds to that and providing other support as we can,” Stein said.
Anyone who wants to learn more about the condos can make an appointment.