Austin’s historic Rainey Street is welcoming a new neighbor. The Paseo, a 48-story mixed-used residential tower, will bring 557 apartments and two levels of retail to the popular Austin entertainment district, known for houses that have been converted into bungalow bars and restaurants. The Paseo’s groundbreaking took place in late February.
The project is located at an infill site on Rainey Street that was previously used as a food-truck lot. The development preserves and incorporates two historic bungalows that have operated as bars and now will serve as commercial space. Masonry brickwork on the building podium also connects the building with its neighborhood.
In addition to the Paseo’s street-facing retail and restaurants, the high-rise tower’s ground floor includes alcoves in the building’s street frontage to create social space and allow for sidewalk cafes. Between the main building and the bungalows, a landscaped garden and walkway connect Rainey Street to the riverfront park and trails.
The above-ground parking garage features a plant-lined masonry façade. A series of staggered setbacks atop the parking podium open up to an amenity deck providing views of the city and Lady Bird Lake. The project aims to reduce vehicle traffic loads on Rainey Street by moving vehicular access, loading, and pick-up away from the street.
Above the garage podium, the residential tower features patterned glass and protruding balconies intended to reflect the dynamic atmosphere of Rainey Street. The residential levels “are arranged in staggered tiers that seem to organically erode into the building mass,” according to a statement from the development’s architect, Pappageorge Haymes Partners.
The Paseo offers 10% onsite affordable housing and preserves most of the existing onsite trees. The project also includes 34,000 sf of building amenities.
The development is scheduled for completion in 2025.
On the Building Team:
Owner /developer: LV Collective
Architect: Pappageorge Haymes Partners
MEP engineer: Blum Consulting Engineers, Inc.
Structural engineer: DCI Engineers
General contractor/construction manager: JE Dunn Construction Company
Landscape Architect: TBG Partners
Related Stories
Student Housing | Jun 25, 2024
P3 student housing project with 176 units slated for Purdue University Fort Wayne
A public/private partnership will fund a four-story, 213,000 sf apartment complex on Purdue University Fort Wayne’s (PFW’s) North Campus in Fort Wayne, Indiana. The P3 entity was formed exclusively for this property.
Apartments | Jun 25, 2024
10 hardest places to find an apartment in 2024
The challenge of finding an available rental continues to increase for Americans nation-wide. On average, there are eight prospective tenants vying for the same vacant apartment.
MFPRO+ News | Jun 24, 2024
‘Yes in God’s Backyard’ movement could create more affordable housing
The so-called “Yes in God’s Backyard” (YIGBY) movement, where houses of worship convert their properties to housing, could help alleviate the serious housing crisis affecting many communities around the country.
Student Housing | Jun 20, 2024
How student housing developments are evolving to meet new expectations
The days of uninspired dorm rooms with little more than a bed and a communal bathroom down the hall are long gone. Students increasingly seek inclusive design, communities to enhance learning and living, and a focus on wellness that encompasses everything from meditation spaces to mental health resources.
MFPRO+ News | Jun 20, 2024
National multifamily outlook: Summer 2024
The multifamily sector continues to be strong in 2024, even when a handful of challenges are present. That is according to the Matrix Multifamily National Report for Summer 2024.
Multifamily Housing | Jun 17, 2024
Elevating multifamily properties through quiet luxury
As the demands of urban living continue to evolve, the need for a tranquil and refined home environment has never been more pronounced.
Multifamily Housing | Jun 14, 2024
AEC inspections are the key to financially viable office to residential adaptive reuse projects
About a year ago our industry was abuzz with an idea that seemed like a one-shot miracle cure for both the shockingly high rate of office vacancies and the worsening housing shortage. The seemingly simple idea of converting empty office buildings to multifamily residential seemed like an easy and elegant solution. However, in the intervening months we’ve seen only a handful of these conversions, despite near universal enthusiasm for the concept.
Adaptive Reuse | Jun 13, 2024
4 ways to transform old buildings into modern assets
As cities grow, their office inventories remain largely stagnant. Yet despite changes to the market—including the impact of hybrid work—opportunities still exist. Enter: “Midlife Metamorphosis.”
Affordable Housing | Jun 12, 2024
Studio Libeskind designs 190 affordable housing apartments for seniors
In Brooklyn, New York, the recently opened Atrium at Sumner offers 132,418 sf of affordable housing for seniors. The $132 million project includes 190 apartments—132 of them available to senior households earning below or at 50% of the area median income and 57 units available to formerly homeless seniors.
MFPRO+ News | Jun 11, 2024
Rents rise in multifamily housing for May 2024
Multifamily rents rose for the fourth month in a row, according to the May 2024 National Multifamily Report. Up 0.6% year-over-year, the average U.S. asking rent increased by $6 in May, up to $1,733.
