Pearlstone Partners is betting big on Austin — it has three new projects in the planning stages that could total about $700 million in construction costs. That’s on top of three under-construction projects expected to deliver from early 2024 through 2025.

With one of the projects, the Austin Business Journal reports Pearlstone Partners has changed gears with its planned 14th & Lavaca tower, which will now move forward as a hotel.

They’d planned to offer 250 condo units at its project near the Texas Capitol with a potential hotel component. During a Nov. 13 meeting of the Austin Design Commission, Pearlstone indicated it was going all in on just a hotel.

Pearlstone’s new plans call for the project to reach 35 stories, or 399 feet high, and a hotel with 280 rooms. It will include an observation deck, parking and a 3,000 square foot ground-floor space to be used for possibly a restaurant.

STG Design Inc. will be the architect for the project.