Pearlstone Moving Forward on Three Austin Apartment Projects
They have the plans and the zoning. Now Pearlstone just needs the money to build three new multifamily communities, along with a hotel partner for one of its highrise developments.
The Austin Business Journal reports Pearlstone is seeking capital partners for the three new projects: the three-building Pressler, with 247 residential units; 62 East, a skyscraper with 215 luxury condos; and 14th & Lavaca, a condo tower with 250 units.
The Pressler would be just west of downtown at 300 Pressler St. In addition to residences, it would have some commercial space. It could total about 302,000 square feet. Pearlstone expects to break ground in early 2024 and complete construction around the second quarter of 2026.
14th & Lavaca would rise at the southwest corner of 14th and Lavaca streets, in place of a shuttered automotive shop. 14th & Lavaca is planned to rise 32 floors and could have a hotel element — Pearlstone is searching for a hotel partner.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.