With Groundbreaking Later This Month, 44 East Avenue is 25 Percent Sold

44 East Avenue, the tallest downtown Austin condo tower headed for the Rainey Street District at the moment, is less than a month away from celebrating its groundbreaking — and more than 25 percent of the project’s reported 322 residential units are already under contract, according to local real estate firm Urbanspace.

Intracorp, the developers behind the tower now expected to rise 49 floors near the shores of Lady Bird Lake at the corner of East Avenue and Cummings Street in the southern peninsula of the Rainey neighborhood, recently announced a groundbreaking event at the 44 East Avenue site scheduled for Tuesday, October 29. 

It’s also a “demolition party,” due to the presence of an older office structure at the project’s address. Via donations of increasing size to the Trail Foundation — the local nonprofit currently devising improvements to the Hike-and-Bike trailhead located just south of the tower site across Cummings Street — attendees can purchase spray paint, hammers, or full-on sledgehammers for the purpose of defacing and/or smashing things at the old building before it’s demolished.

Read more at austin.towers.net »