AUSTIN | Natiivo / Austin (48 East) | 358 FEET | 33 FLOORS | T.O. - Page 7

The ATX · #1 Posted **Jul 17, 2019, 9:46 AM**

A tower crane permit was filed Tuesday. This one doesn't have the installations dates.

https://abc.austintexas.gov/web/perm...ertyrsn=879344

GoldenBoot · #2 Posted **Apr 29, 2019, 8:53 PM**

This project has secured construction financing. It seems to also have a few little changes...total number of for-sale condo units climbed to 249 (from 215); the units will start at 456 SF and average 851 SF.

freerover · #3 Posted **Apr 29, 2019, 8:55 PM**

From ABJ

Quote:

A 33-story condo tower planned for the Rainey Street Historic District has received an $87.9 million construction loan.

Miami-based 3650 REIT — a national commercial real estate lending, investment and services firm — provided the loan to a joint venture between Pearlstone Partners and Newgard Development Group for the development of 48 East, according to an April 29 announcement.

“3650 REIT’s real estate expertise and ability to provide flexible financing solutions, combined with our strategic partnership with Newgard and specialization in Austin will enable us to bring to market a first-class project that will resonate with and meet the needs of the local market,” Robert Lee, CEO at Pearlstone Partners, said in a statement.

Lee told the Austin Business Journal a year ago that the partners on the project were finalizing financing on the tower, estimated to cost between $140 million to $150 million to build.

The project is fully permitted by the city.

Lee couldn't immediately be reached for comment so it's unclear when construction may begin on the condo tower.

48 East will have 249 luxury units for sale, up from 215 proposed last year, according to the announcement. The tower will have 274 parking spaces across nine levels, and high-end amenities including a rooftop pool, viewing deck and fitness facility. Units will be as small as 456 square feet and average about 851 square feet to make the condos more affordable to young professionals, the developer said in the announcement.

“This loan afforded us the opportunity to provide capital to a strong joint-venture sponsorship encompassing both local market knowledge and high-rise expertise to develop this transformative project in Central Austin,” 3650 REIT Managing Partner Jonathan Roth said in a statement. “The affordability of the units at 48 East in tandem with its superior amenities and prime location near Rainey Street and Lady Bird Lake, as well diverse dining and nightlife options, should help generate substantial demand for units at the property.”

Mike Guterman at Highland Realty Capital, a California-based commercial real estate finance firm, was responsible for arranging the financing along with John Ghiselli from Waterloo Real Estate Investments.

48 East is one of a handful of projects under construction or in the pipeline for Rainey Street area. Others include:

• Canada-based developer Intracorp Projects Ltd. is developing the 49-story 44 East condo tower that will bring 322 for-sale units and ground-level retail space to the corner of Cummings Street and East Avenue.

• Kevin Burns, founder of UrbanSpace, has plans to develop his own 51-story high-rise with 290 apartments and a 293-room hotel at 90-92 Rainey St. The project is just beginning the entitlement process with the city of Austin.

• Construction has started on The Quincy, Endeavor Real Estate Group LLC's 30-story apartment tower at 91-93 Red River St. MetLife Investment Management, MetLife Inc.’s (NYSE: MET) institutional asset management business, recently signed on as an equity partner. The tower is expected to deliver in the third quarter of 2020. It will contain 72,997 square feet of office space, 10,545 square feet of retail space and 347 apartment units. It's under construction now.

The ATX · #4 Posted **Apr 29, 2019, 9:25 PM**

So they switched again. This has gone from Rental>Condo>Hotel/AirBnB Concept>Condo. At least it's good to go now.

The ATX · #5 Posted **May 7, 2019, 8:01 PM**

I don't know if the Hunt Construction group is the general contractor for this project. But here's a permit with their name on it for "Site Construction with Alley Closure" beginning July 1st. The address range would indicate that it's for either this project or 44 East. But I'm going with this one since it is much further along.

https://abc.austintexas.gov/web/perm...rtyrsn=2019481

We vs us · #6 Posted **Jun 18, 2019, 5:48 PM**

Towers confirms this will be an Air BnB concept tower, permitted and constructed as a 249 key hotel. Scheduled to open by Sept 2021.

https://austin.towers.net/airbnb-pow...reet-district/

KevinFromTexas · #7 Posted **Aug 21, 2019, 10:16 PM**

They have a bulldozer on site. I don't know if it was there during the groundbreaking or not, but there's one there now.

ToTheSky · #8 Posted **Aug 21, 2019, 10:41 PM**

Quote:

Originally Posted by KevinFromTexas

They have a bulldozer on site. I don't know if it was there during the groundbreaking or not, but there's one there now.

Yay! There had been a backhoe on the lot for the groundbreaking, and when I looked at the lot this morning on my way to work I didn't even see it there, so hopefully this is a new piece of equipment and they're about to get busy!

The ATX · #9 Posted **Aug 27, 2019, 7:44 PM**

The tower crane is currently scheduled to go up the weekend of 10/11-10/14.

https://abc.austintexas.gov/web/perm...rtyrsn=2019481

JoninATX · #10 Posted **Sep 11, 2019, 11:08 PM**

We can assume this one a go.

JoninATX · #11 Posted **Sep 21, 2019, 10:38 PM**

Do any of you guys have any pictures? Anxious to see if they have started site work.

urbancore · #12 Posted **Sep 21, 2019, 10:55 PM**

I’ve driven by a couple times. They are def at work and selling quickly.

The ATX · #13 Posted **Sep 27, 2019, 10:37 PM**

These appear to be from about a week ago:

https://www.flickr.com/photos/drl/al...h/48777761966/

The ATX · #14 Posted **Oct 3, 2019, 7:00 AM**

Here are some new renderings from STG of the project as a Natiivo property.

This view will never be a reality since 44 East will block it.

https://www.stgdesign.com/in-progress

The ATX · #15 Posted **Oct 8, 2019, 4:01 PM**

The tower crane installation was rescheduled for 11/12 to 11/18.

https://abc.austintexas.gov/web/perm...rtyrsn=2019481

Jdawgboy · #16 Posted **Nov 8, 2019, 7:09 PM**

Crane base up. Can see it from 35. So yea, looks like they are pretty much ready for the rest of the crane to go up.

KevinFromTexas · #17 Posted **Nov 10, 2019, 11:56 PM**

I saw a truck hauling some crane pieces on I-35 heading north toward downtown a little bit ago. My guess is it was for Natiivo. They were grey pieces.

The ATX · #18 Posted **Nov 16, 2019, 12:34 AM**

The updated schedule for the tower crane installation has it for next weekend.

https://abc.austintexas.gov/web/perm...rtyrsn=2019481

We should be able to see the cranes and construction progress on both Natiivo and 44 East from the Quincy webcam.

https://app.oxblue.com/open/endeavor/redrivertower

Austin1971 · #19 Posted **Nov 16, 2019, 5:43 PM**

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Austin1971 · #20 Posted **Nov 18, 2019, 6:00 PM**

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