Austin’s booming Rainey Street district is about to add yet another high-rise, as a Canadian-based developer plans to kick off construction in October on a 49-story condominium tower in the neighborhood on downtown Austin’s southeastern edge.
Intracorp Projects Ltd. released new images to the American-Statesman of the tower’s amenities and common areas, which are being designed by Michael Hsu of Michael Hsu Office of Architecture.
The building is named 44 East Ave., after its address. Intracorp announced the project in October 2018, originally envisioning a 51-story tower (about 545 feet tall) and 330 condominiums.
As currently planned, the building would now have 49 stories and be about 570 feet tall, and would include 322 condo units, said Brad Stein, senior vice president and managing director of Intracorp’s Austin operations. The estimated cost of the project is more than $200 million, he said.
Stein said financing is in place, by a syndication of banks led by Bank of Montreal/Harris Bank. The tower is expected to be completed in late 2022.