Rainey Street's newest mixed-use high-rise is now open, with Austin-based real estate firm LV Collective announcing the completion of its 48-story Paseo project this fall.
The big picture
Paseo, located at 80 Rainey St., Austin, features 498 studio, one-, two- and three-bedroom apartments as well as four penthouse units. The 567-foot tower also houses the 59-room ROOST Rainey hotel spanning floors 14-17, the Daydreamer cafe and wine bar on the ground floor that opened Nov. 7, and the Mediterranean-inspired bar and restaurant Amaya opening Dec. 5 on the 12th floor.
Paseo's top floor includes a resident lounge. (Courtesy LV Collective)
Quote of note
“The delivery of Paseo represents more than the completion of a building—it's the realization of a vision for what experiential living on Rainey Street can be,” LV CEO David Kanne said in a statement. “We set out to create a community inspired by the neighborhood’s rich history while creating a unique living experience for one of the most dynamic neighborhoods in the US.”
Zooming in
In addition to Paseo's food, drink and hospitality concepts, residents will have access to several amenities:
A 12th floor pool deck with full-service bar
Two floors of coworking space including private work areas and conference rooms
A 48th-floor rooftop pool, hot tub and lounge
A fitness center including a yoga studio, reformer Pilates, cold plunge and saunas
A rooftop pool deck is located on Paseo's 48th floor. (Courtesy LV Collective)
The new hotel, ROOST's first in Texas, features studio, one-, two-, three- and four-bedroom rooms. The boutique apartment-style units created with Method Studios each have full-size kitchens and in-unit laundry as well as access to 24-hour concierge service and Paseo's residential amenities. The hotel is scheduled to open in early winter.
Paseo includes 498 apartments, four penthouse units and dozens of hotel rooms. (Courtesy LV Collective)
The project also launched with an Artist in Residence Program that granted one year of complimentary rent to several artists.
Paseo has several fitness amenities including a yoga studio. (Courtesy LV Collective)
One more thing
Prior to Paseo's construction, a more than century-old bungalow contributing to the Rainey Street Historic District was approved for relocation to clear the way for the new tower.
The historic home most recently served as a bar and office space, and has since been preserved and moved behind the former Reina bar at 78 Rainey St., Austin. The 875- and 1,289-square-foot bungalows will be reopening soon as new bar and restaurant concepts; both spaces are currently available for lease.
“The old bungalows, locally-run bars and pedestrian-friendly streets are what make Rainey Street a special and desirable destination, so it’s our intent to maintain the vibrancy and unique character of this area and build upon it,” Kanne told Austin's Historic Landmark Commission in October 2022.
LV Collective preserved historic bungalows on the project site to serve as new bar and restaurant spaces. (Rendering courtesy LV Collective)
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