LV Collective, an Austin-based multifamily and student-oriented real estate developer, started work on its new mixed-use property Paseo, located at 80 Rainey Street in Austin, Texas.

The multifamily development will rise 48 stories in the heart of Austin’s Rainey Street District. The building will feature 557 residential rental units. An amenity deck stretching between the 11th and 13th floors offers features like a co-working space, plus a rooftop pool and lounge on the top floor. The property will offer studio, 1-, 2- and 3-bedroom apartments with views of Austin from the upper floors. An estimated 20 units of the development are designated affordable housing.    

The project will preserve and reimagine the two existing bungalows on the site in order to maintain the pedestrian experience of the Rainey Street District.  

JE Dunn is the general contractor. Pappageorge Haymes Partners is the architect. UMB Bank  is providing financing for the project.  The building is set to deliver late 2025.