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Nearly 50-story condo tower in Rainey district expected to break ground next year

A Pearlstone project at 84 East Ave., near the developers' latest tower plans. (Pearlstone Partners)

The latest move adding to the Rainey Street district’s rapid growth is a 48-story residential tower set to start construction next year.


The high rise will be built on tracts spanning from 62 East Ave. to 64 East Ave. The local developers behind the project, Pearlstone Partners, told the Austin American-Statesman that the plans are in preliminary stages but they are picturing 245 condo units in the nearly 50-story tower.

Plans for the tower come as Austin's party districts, including Rainey, enjoy pandemic recovery with record high alcohol sales and revived foot traffic.

The next steps for the project are having it undergo the city’s development review process as well as the downtown density bonus program if the developers choose to increase height and square footage.

Another condo tower Pearlstone is creating in the Rainey district is a 41-story high rise slated to have a rooftop pool, co-working space, a dog park and more. The developers have been busy around Austin lately with other condos, including a residential and commercial development at Mueller, office space on East 5th St. and more.

For now, the newest Rainey project is looking at a timeline of breaking ground late next year and targeted completion in 2026.

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