Lincoln Property Co. and Kairoi Residential have completed Waterline, a 74-story mixed-use tower in downtown Austin, Texas that now stands as the tallest building in the state. The project delivers a combination of multifamily, office and hotel space within a single high-rise footprint in the city’s core.
The developers have brought 352 multifamily units to market across 33 residential levels under the Bosque Residences branding. The residences span one- to three-bedroom configurations, including penthouse layouts, with unit sizes ranging from 701 to 2,803 square feet. Select apartments include waterfall kitchen islands, free-standing tubs, and both wet and dry bars, along with other premium finishes and design features.
Waterline’s office component consists of 703,000 square feet of space distributed across 24 floors. Above and below the office levels, the tower also incorporates a hotel program with 252 guestrooms occupying 13 stories. The combination of residential, office and hospitality uses places multiple commercial real estate asset classes in a single vertical development in downtown Austin.
Amenity offerings at the property include a coworking lounge, conference rooms and dedicated space for podcast recording, reinforcing the building’s focus on both traditional and flexible work styles. Additional shared spaces feature a poker venue, a golf simulator and several swimming pools, providing a broad range of on-site leisure and social options for residents and guests.
According to reporting from Multihousing News, Waterline is supported by a $742,500,000 self-financed construction loan that was originated in June 2022, approximately one year before construction commenced. The capital structure, as reported, centers on this single construction financing piece, with no additional financial details disclosed in the source material.
The development team extended beyond the primary sponsors to include several well-known design and construction firms. DPR Construction served as the project’s general contractor, while KPF led the design effort. HKS acted as the architect of record, coordinating the technical delivery and documentation of the high-rise. The team collectively brought the project to completion two months ahead of its original schedule, marking an early delivery of the tower to the Austin market.
