The Waterline will feature 352 luxury apartment homes, a 251-room hotel, 24,000 square feet of commercial and restaurant space, and 700,000 square feet of office space, according to a press release.
The project is located at 98 Red River St., Austin, between Rainey Street and the Central Business District. It will be 1,022 feet tall and sit on a 3.3-acre campus at the intersection of Waller Creek and Lady Bird Lake, the release said.
The tower will be the tallest in Texas once completed, according to the release.
The hotel space—1 Hotel Austin—will be 13 floors and include a rooftop pool, the release stated.
Office space will occupy 27 stories and feature an amenity deck offering 24,000 square feet of outdoor space along with a bar and a 7,000-square-foot gym, according to the release.
Personal residences will occupy the top 33 stories. Those residents will have access to two pools, a fitness center and several shared areas, including a lounge and dining area, the release said.
As part of the project, developers will add two new pedestrian bridges over Waller Creek and three additional access points to the Waterloo Greenway. Developers will also donate $1 million to the Waterloo Greenway Project toward funding improvements to the 1.5-mile trail that connects The University of Texas to Lady Bird Lake, according to the release.
“Downtown Austin offers one of the most dynamic markets and skylines in the nation, and we’re excited to help drive its ongoing transformation,” said Seth Johnston, senior vice president of Lincoln Property Company in Austin, in the press release.
The project is expected to be completed in 2026, the release said.