The Austin Proper Hotel & Residences, a new luxury lifestyle hotel and condominium development in Austin, Texas, has officially broken ground. A ceremony on Friday, Sept. 9 marked the start of construction for the tower, bringing a high-end hospitality and residential destination to the city’s downtown.
Project developer The Kor Group was joined at the event by representatives from the City of Austin Economic Development Department, Trammell Crow Company, and other partners. The Merchant Banking Division of Goldman, Sachs & Co. was announced as the capital partner for the hotel project, which is scheduled to open in 2018.
Operated and branded by Proper Hospitality, the downtown Austin Proper Hotel & Residences is a 33-story, 500,000-square-foot development that will combine hotel amenities with private residences. The project includes 244 hotel rooms with interiors by designer Kelly Wearstler, food and beverage concepts curated by McGuire Moorman Hospitality, and more than 12,000 square feet of indoor and outdoor meeting and event space.
Rising above the hotel podium will be 99 for-sale condominiums and penthouses. Pricing for those residences begins at around $600,000, with some penthouses priced near $3.4 million. Sales have moved quickly, reflecting strong demand for centrally located luxury housing in Austin.
“The luxury hotel and residential offering completes our vision of making Green Water the ultimate lifestyle work/live/stay/play development in all of Austin,” said Adam Nims, principal at Trammell Crow Company.
The project is part of the larger redevelopment of the former Thomas C. Green Water Treatment Plant site. The conversion supports community priorities to make downtown Austin more vibrant, walkable, and livable by introducing new housing, hospitality, and amenity options near the city core.
Amenities at the property will be extensive and designed to serve both residents and hotel guests. Plans include full hotel services for residents, two rooftop decks with pools, a spa and fitness center, a lobby restaurant and lounge, a coffee shop, and an elevated poolside restaurant. Residents and condominium owners will receive exclusive privileges such as priority dining and spa reservations, preferred pricing on hotel services and accommodations for guests, access to four stories of underground parking, and reciprocal benefits across the Proper portfolio.