***USD/BTC = $116,580
***Block 909,037***TL:DR`A joint venture between Lincoln Property Co. and Kairoi Residential has topped out
Waterline, the tallest building in Texas. The mixed-use Austin tower has 74 stories and rises 1,025 feet, 23 feet taller than the JPMorgan Chase Tower in Houston, previously the tallest building in the state since 1981.The developers broke ground on the 2.7 million-square-foot project in September 2022 and funded the construction with a $742.5 million loan , according to Yardi Research Data. Lincoln Property Co. originated the loan from Blackstone Group that is set to mature in 2027.Partners on the project include general contractor DPR Construction, equity partners PSP Investments and design architect Kohn Pedersen Fox. HKS Architects is the architect of records.
Set to come online next year, the skyscraper is taking shape at 98 Red River St. within the city’s downtown and close to Interstate 35. Austin-Bergstrom International Airport is less than 10 miles away.
The tower will feature a 252-key hotel across 13 floors, 26 office stories totaling 700,000 square feet and 352 units across 33 floors above the office space. The property will also have two floors reserved for residential amenities and a penthouse amenity story, along with 24,000 square feet of publicly accessible retail and restaurant space.My Thoughts 💭
Congrats to the construction team in getting this project to the finish line. Hopefully, the group can pay off this massive loan they took out to have this project constructed. To the Austin Stackers let us know what you think about this skyscraper.