Downtown Austin will welcome a new luxury hotel in 2025 due to a land acquisition by Adventurous Journeys Capital Partners, the group announced April 20.

The hotel—Graduate Austin—will be located at the intersection of Guadalupe and West 18th streets, which currently houses a closed office and several vacant lots.

Once completed, the ground-up development will climb 18 stories and include meeting rooms, a fitness center, a ground-floor cafe, a rooftop bar and restaurant, and a rooftop pool.

The Nashville-based company has 33 Graduate hotels open across the U.S. and U.K. The company has three new locations planned for Dallas; Princeton, New Jersey; and Auburn, Alabama, in addition to the Austin hotel.

Quote of note: “Austin has long been a dream location for Graduate,” said Tim Ryan, chief investment officer for Graduate Hotels, in a news release. “The city’s distinct personality, creative energy and adventurous spirit align perfectly. We’re huge fans of this community and all things UT, and we look forward to delivering a space that reflects and celebrates those sentiments through design that’s rooted in storytelling, gracious hospitality, best-in-class food and beverage offerings, and more.”