![]() Waterline's ground floor will have 24,000 square feet of retail and restaurant space overlooking Waller Creek and the Waterloo Greenway. ![]() The developers said they will contribute $1 million to fund improvements to the Waterloo Greenway, a 1.5-mile trail that connects the University of Texas campus to Lady Bird Lake. The 1 Hotel will be the first in Texas from global hospitality company SH Hotel Resorts for its luxury 1 Hotel brand, which emphasizes sustainability features.Īs part of Waterline, two pedestrian bridges will be added over Waller Creek from the west, along with three public pedestrian and bike access points to the Waterloo Greenway from the east. “Waterline marks a new milestone for downtown not only because of its height but also because of the positive impact this project will have on improving connectivity, enhancing public amenities, and attracting more people to this beautiful area of downtown.”Īs previously announced, Lincoln and Kairoi's project will have 352 apartments, 700,000 square feet of office space and a 251-room 1 Hotel Austin. “Downtown Austin offers one of the most dynamic markets and skylines in the nation, and we’re excited to help drive its ongoing transformation,” Seth Johnston, Lincoln's senior vice president in Austin, said in the release. Blackstone Mortgage Trust, a real estate finance company, provided the construction loan for Waterline. Other offices are in New York, London and Hong Kong. Headquartered in Ottawa, PSP Investments has its principal office in Montréal. One of Canada’s largest pension investment managers, the Public Sector Pension Investment Board - commonly known as PSP Investments - is the main equity partner in the new Waterline tower, Lincoln and Kairoi said. The current tallest tower in Austin is the Independent, a 58-story residential skyscraper nicknamed the Jenga Tower for its offset design. Its height will eclipse what is currently the tallest building in the Lone Star State, the 75-story JPMorgan Chase Tower (formerly Texas Commerce Tower) that soars 1,002 feet into the air in downtown Houston. The high-rise, which will overlook Lady Bird Lake, is planned to open in four years, in late 2026. It will be built at 98 Red River St., on 3.3 acres along Waller Creek and the Waterloo Greenway in downtown's Rainey Street area. The developers have named the tower Waterline. More: 65-story hotel-condo tower would become Austin's 2nd-tallest building The developers on Tuesday revealed other new details about the project, including its name, its scheduled opening date and a new equity partner in the project.
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