![]() ![]() "While meaningful levels of supply are currently being delivered, we believe there will be a period from 2025–2027 when new deliveries will be significantly less than usual given the current challenges preventing many new multifamily developments from starting. “Multifamily has proven to be a resilient asset class in a wide variety of economic climates, and we firmly believe in the fundamentals and long-term growth of Austin," Wilson said in an April 14 news release. Wilson Capital has 1,894 units under construction across the Austin region, with plans to start an additional 885 units by the end of the year on sites the firm owns.Īustin's skyline keeps growing: 46-story office tower planned for downtown Those projects are the Bower, 294 units in Pflugerville Local at Dripping Springs, with 204 units and Jovie Lakeway, an age-restricted community with 210 units in Lakeway. The company recently started construction on three new multifamily projects in the Austin area totaling 708 units. Wilson said the project will add to the density along the city’s transit corridors "to accommodate the unprecedented level of population growth Austin is experiencing."Īustin's boom continues: Work set to start on 48-story downtown office tower Other projectsĪlong with plans for its downtown tower, Wilson Capital has thousands of other apartments built, under construction and planned in the Austin region. Wilson Tower is being designed by the Austin office of global architecture firm HKS Inc., with interior design by Britt Design Group. A number of buildings - residential, hotel, office and mixed-use - are under construction or planned. If it breaks ground as planned, Wilson Tower would add to downtown's building boom that has taken place in successive waves over the past couple of decades. "Austin still possesses an unparalleled lifestyle, an incredibly educated workforce, and it enjoys the advantages afforded by Texas’ tax and regulatory environment. These attributes will continue to be attractive to businesses interested in expanding or relocating."Īnother new high-rise: This 50-story tower is planned for downtown Austin "We are confident in Austin’s long-term growth prospects and massive macro tailwind," said Lynd, chief executive of Kairoi Residential, which is developing Waterline and Sixth and Guadalupe with partner Lincoln Property Group. In an email in November, Michael Lynd Jr., a co-developer of Waterline and Sixth and Guadalupe, said that despite uncertainty in the real estate market with the economy contracting and unprecedented inflation, Austin remains "one of the best markets in the country." It surpasses the Independent, a 58-story completed condo project often referred to as the "Jenga Tower" in the Seaholm District downtown. At that height, it will surpass the 75-story JPMorgan Chase Tower (formerly Texas Commerce Tower) that soars 1,002 feet in downtown Houston.Īlthough not yet finished, the Sixth and Guadalupe mixed-use tower, which has reached its highest point of construction at 66 stories and is due to open this year, is currently the tallest building on the Austin skyline. The mixed-use Waterline skyscraper is slated to rise 74 stories and be 1,022 feet tall. With the revised plans for Wilson Tower, a skyscraper called Waterline, now under construction at 98 Red River St., is on track to become the tallest tower in Texas. ![]() An estimated timetable for the tower's completion also was not provided.Īustin's tallest skyscraper : Construction nears completion with big-name restaurant tenant He did not disclose any details about financing for the project and its projected cost. Wilson said he expects construction to start on Wilson Tower this year. We believe this new design is more appropriate to provide an activated ground floor while remaining feasible in today’s environment." "Construction costs and interest rates are both higher now than they were when we originally designed the project. "We are making some changes to the ground floor in response to both the Design Commission’s feedback and changes to the vertical nature of the building in response to current market conditions," Wilson said in an email to the American-Statesman. ![]() New 80-story tower planned for Austin: It could become tallest building in TexasĪt a recent meeting of the Design Commission, an advisory body to the Austin City Council, one commissioner cited a preference for more public benefit from the project. ![]()
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