Pearlstone Partners is making a major investment in Austin, with three new projects currently in the works that could cost up to $700 million for construction. This comes on top of three ongoing projects set to be completed between early 2024 and 2025.
One of these upcoming developments, as reported by the Austin Business Journal, involves Pearlstone Partners shifting its focus for the planned 14th & Lavaca tower from condos to a hotel.
Initially intended as a mixed-use project with potential condo units and hotel space near the Texas Capitol building, Pearlstone has now decided to solely pursue a hotel concept. During their presentation at an Austin Design Commission meeting on November 13th, they announced plans for a 35-story (399 feet tall) highrise featuring 280 guest rooms along with an observation deck and parking facilities. The ground floor will also include approximately 3,000 square feet designated for potential restaurant use.
STG Design Inc., known for their expertise in architecture and design services across various industries including hospitality development, has been selected as the architect firm responsible for this project’s design.
The post Busy Pearlstone Shifts Focus from Condos to Highrise Hotel appeared first on Connect CRE .
