Austin’s Tallest Apartment Tower Underway

AUSTIN – (Realty News Report) – JLL Capital Markets secured construction financing for The Travis, a 423-unit, 50-story apartment tower in the Rainey Street District of downtown Austin. JLL worked on behalf of the borrower, Genesis Real Estate Group and PGIM Real Estate, to secure a loan through JPMorgan Chase.

The building is being called Austin’s tallest “single-purpose, for-rent multi-housing high-rise.” Downtown Austin’s Austonian (56 stories) and The Independent (58 stories) are taller residential buildings with for-sale condo units.

The Travis tower, 80 Red River street, will be completed in the fall of 2024.

The Travis tower site is near Lady Bird Lake and Interstate 35 in the Rainey Street District. Rainey Street District has been transformed into cultural and nightlife attraction. The property provides walkability to over 40 restaurants and bars and numerous shops in the Rainey District where a number of new residential projects on the skyline.

Last August, it was announced Austin-based Pearlstone Partners and New York-based ATCO Properties & Management have started work on a a 41-story residential high-rise at 84 East Avenue in Austin’s Rainey Street District. Called Vesper, the  41-story residential condominium tower situated on 0.41 acres. Vesper will offer 284 residential homes at an average size of 975 SF.

A 17-story hotel, Fairfield Inn & Suites is under construction in the Rainey Street District near downtown Austin. The 152,000-SF hotel will be located at 76 East Avenue. Houston-based Arch-Con Corp. is constructing the 126-room Fairfield Inn & Suites, which is being developed by RGB Hospitality and designed by MCS Architects.

The Travis contributors: The JLL Capital Markets Team representing the borrower was led by Senior Managing Director Campbell Roche and Senior Managing Director Robert Wooten.

Feb. 10, 2022 Realty News Report Copyright 2022.

File:  Austin’s Tallest  Apartment Tower Underway

Image: Courtesy JLL Capital Markets. Rendering shows Travis Tower on right near the north shore of Lady Bird Lake in downtown Austin..

File: JLL. Austin’s Tallest Apartment Tower Underway in Rainey Street. 







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