Pearlstone and ATCO Get Approval Nod for Condo Project
Austin-based co-developers Pearlstone Partners and New York-based ATCO Properties and Management recently received final approval for a density bonus for a multifamily condominium development. Currently referred to as The East Tower, the developers plan to release the formal name and branding at a later date.
The East Tower is to be constructed at 84 East Ave. in Austin’s Rainey Street Historic District. Pearlstone Partners and ATCO Properties expect to break ground on the project this summer, with completion projected for first quarter 2024. The 41-story condominium tower situated on 0.41 acres is expected to offer 284 residential homes at an average size of 975 square feet.
In accordance with the Rainey District affordability guidelines, 10 units will be dedicated to the Austin Affordable Housing Program and reserved for households earning up to 80 percent of Austin’s median family income.
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