[Urbannizer]

‘Airbnb-Powered’ Home Sharing Concept Natiivo Heads to Rainey Street District

The long-awaited tower project at 48 East Avenue in downtown Austin’s Rainey Street District won’t be home to either condos or apartments, as previously reported during various stages of the development’s roughly six-year lifespan — instead, the 33-floor building will be built as a 249-unit hotel, but that’s really only half the story.

In line with reports from this site back in January, the 48 East Avenue project will indeed rise as a “Powered by Airbnb” community designed for home sharing, but rather than the Niido brand previously anticipated, the property will instead soon become the first location of a new hospitality concept called Natiivo.

According to a press release issued today, Austin real estate firms Pearlstone Partners and the Miami-based Newgard Development Group are jointly developing the building, which will be operated by NGD Homesharing, another Miami firm behind both the Niido and Natiivo brand concepts. Newgard CEO Harvey Hernandez is also the founder and CEO of NGD Homesharing, which currently operates Newgard-owned Niido properties in Orlando and Nashville. The Austin Natiivo is scheduled to open in September 2021, with a 48-story Miami location expected by Spring 2022 and “planned expansion to additional U.S. cities underway.”