With More Demand, Pearlstone Releases Floor Slated for Hotel Rooms

Austin-based Pearlstone Partners’ development Natiivo Austin is now more than 75 percent complete and 85 percent sold. The new high-rise condominium project is located at 48 East Avenue in the historic Rainey Street District in downtown Austin. Prospect Real Estate is the exclusive listing agent for the development.

Due to the unprecedented market conditions, increasing demand for residential homes in the urban core and the extremely low single-family home inventory, the developer recently released the 14th floor, originally planned to encompass 11 hotel rooms, as additional residential units for sale. Four of the newly released units are under contract.

“We expect to have the first temporary certificates of occupancy in September with the first move-ins likely in November,” said Denise Bodman, Prospect Real Estate vice president of sales. “This ownership concept is a first for the downtown Austin area and buyers like the flexibility Natiivo Austin offers—having the option of purchasing an unfurnished or fully furnished unit either as a primary residence or investment.”

Natiivo Austin is a 33-story high-rise condominium tower that offers the benefits of ownership with the service of a high-end hotel. Its 248 residences include studios and one- and two-bedroom units available fully furnished. Co-developed by Austin’s own Pearlstone Partners and Florida-based Newgard Development Group, the building’s architecture was conceived by STG Design and its interiors created by New York-based INC Architecture and Design.