A developer says it plans to build a 35-story tower with nearly 300 luxury condominiums on downtown Austin’s northwest side — a project that would be one of the tallest buildings to date in that area.
Called Luminary, the building will have 286 one- to three-bedroom residences in a tower slated to rise 400 feet. Luminary’s condos are expected to range in price from about $600,000 to more than $3 million, with a number of units below the $1 million mark.
The 0.81-acre site is located at the northwest corner of 14th and Guadalupe Streets, west of the Texas State Capitol and SXSW Center, home of South by Southwest’s headquarters.
For Luminary, Austin-based Urbanspace LLP has been tapped to handle the marketing and sales of the units.
“What makes Luminary particularly special is that it offers attainable home ownership for urban dwellers seeking the city energy and conveniences combined with the serenity of a residential neighborhood,” said Kevin Burns, founder and CEO of Urbanspace. “Additionally, new homes for less than $1 million in downtown Austin fill a much-needed void, and are particularly attractive to young professionals, empty nesters and people wanting a lock-and-leave lifestyle or second residence.”
Burns’ Urbanspace real estate brokerage team has downtown Austin’s most prolific new condo sales representatives. Burns and his agents previously have sold out towers such as Seaholm and The Independent (also known as the Jenga tower), which set a record-breaking pace for sales. Burns also is developing his own high-rise project, The Modern Austin Residences in the Rainey Street District on downtown’s southeastern edge.
Burns and Kaleel previously joined forces when Kaleel was with Intracorp Homes and spearheaded the development of the 44 East Ave condo high-rise on Rainey Street, which Urbanspace also represented.