Waterline, the new tallest tower in Texas rising more than 1,000 feet above downtown Austin, has reached its final height nearly three years after the landmark mixed-use project broke ground.

The overview

The 74-story high-rise from Lincoln Property Co. and Kairoi Residential sits on a more than 3-acre campus at 98 Red River St., Austin. The project features several separate components:

• 352 luxury apartments spanning the top 33 floors
• 703,000 square feet of Class AA office space across 26 floors, including a 14th-floor library, lounge and conference center alongside an outdoor amenity deck
• A 252-room 1 Hotel—the sustainability-focused SH Hotel & Resorts brand—covering 13 floors, including a rooftop pool and bar area
• 24,000 square feet of public retail and restaurant space at the base of the tower

Planning for Waterline began back in 2018, and the project is now expected to be completed in 2026. It will open in phases beginning with the hotel, followed by office and residential space.

Andy Smith, Lincoln Property Co. senior vice president, said visitors will have access to a neighborhood coffee bar, eatery and other "high end" concepts as well as direct connections to the Waterloo Greenway park and trail network along Waller Creek.



In addition to making its mark on the Austin skyline, Lincoln Executive Vice President Seth Johnston said Waterline will have a "transformational impact" on the southeastern portion of downtown upon its opening next year.

“Seamlessly integrated with Waller Creek, Waterloo Greenway and the hike-and-bike trail around Lady Bird Lake, Waterline will quickly become a top downtown destination and activity center. Project improvements will also make it far easier for people to access all of the public amenities in this area from Rainey Street, the new Austin Convention Center, and the rest of the Central Business District," Johnston said in a statement.

Zooming out

Waterline's official topping out will be marked by general contractor DPR Construction Aug. 1, when the tower's final beam will be lifted into place.

At 1,025 feet, the project is the tallest in both the city and the state, according to Lincoln. The company said Waterline now stands above the JPMorgan Chase Tower in Houston, Texas' tallest building since 1981. It also surpasses Austin's previous record holder, Lincoln and Kairoi's 66-story Sixth & Guadalupe that opened last year, by more than 180 feet.

The approach

Waterline's development has taken place alongside work on the second phase of the Waterloo Greenway initiative, The Confluence, along Waller Creek between Lady Bird Lake and Fourth Street.

That project is improving the area with an estimated 200,000 plants and 1,600 trees, plus several new bridges across the waterway—funded with $1 million from Lincoln and Kairoi. One new bridge over the greenway connects with Cesar Chavez Street for more direct access to the redeveloped convention center.

Melissa Ayala, the greenway conservancy's vice president of government relations, said the organization worked with the Waterline team to create a "seamless connection" between the tower and trail.

“Waterloo Greenway is a world-class project and a major project for Austin, and we know it’s one of the things that the Waterline team took into consideration when they were choosing their location," she said. "We’re excited to see the Waterloo Greenway park guests taking advantage of the Waterline retail and amenities, and also Waterline guests taking advantage of Waterloo Greenway’s park system right outside their doors.”

Smith also credited architect Kohn Pederson Fox for designing Waterline with connections to the Waterloo Greenway and dense Rainey Street district.

"We kind of view ourselves now as the gateway into Rainey. We built a lot of community space. ... We put in a bridge. Lincoln put in a bridge straight over to the convention center just to bring that attraction," he said.

The Confluence is expected to open to the public next year. The conservancy will then move into the restoration of Palm Park off I-35 at Third Street based on recent community engagement. The greenway's final portion, connecting Waterloo Park with The Confluence and Palm Park, will begin development after that project.

What's next

Waterline is nearing completion amid a wave of taller development throughout the Rainey Street district, including other high-rise additions like The Modern Austin Residences, Paseo and The Travis next door. The project team will also be responsible for a future addition at the entrance to the district: the planned Waterline Phase 2 across the block on what's now a surface parking lot at 97 Red River St., Austin. Smith said no firm plans have been set for that future development.

1 Hotel Austin will open at Waterline next fall. The office floors are now being marketed by Lincoln and expected to open soon after. Kairoi will begin marketing the high-rise apartments ahead their opening next year.

Lincoln hasn't signed any office tenants yet, Smith said, and tower space will likely be leased in multistory portions. Most of Waterline's office floors range from about 23,000-32,500 square feet each.