Austin Proper Hotel & Residences Breaks Ground

AUSTIN, TX—Austin Proper Hotel & Residences, a luxury lifestyle hotel and residential offering here in downtown, held a groundbreaking celebration on Sept. 9, kicking off construction on the mixed-use tower.  

Project developer The Kor Group attended the ceremony, as well as members of the City of Austin Economic Development Department, Trammell Crow, and members of the project team. The groundbreaking follows the naming of the Merchant Banking Division of Goldman, Sachs & Co., as capital partner for the hotel and residences, slated to open in 2018. 

The 33-story, 500,000-sq.-ft. project will be managed and branded by the lifestyle hotel operator, Proper Hospitality. The tower will feature 244 hotel rooms with interior design by Kelly Wearstler; multiple dining options by McGuire Moorman Hospitality; and over 12,000-sq.-ft. of indoor and outdoor meeting and event space. 

Perched atop the hotel are 99 exclusive for-sale condominium residences and penthouses, which are quickly pre-selling, according to the company. Residences are currently priced from $600,000-$3,000,000 and penthouses from $3,400,000.

“From the very first conceptual discussions to this wonderful milestone in our development, the entire community has been exceedingly receptive, focused and collaborative,” said Brian De Lowe, president and co-founder of Proper Hospitality and Partner at The Kor Group. “We feel extremely encouraged to be working so closely with such a talented team to bring this transformative development to market.”

The project is a cornerstone of the redevelopment of the former Thomas C. Green Water Treatment Plant, which is being led by the Trammell Crow Company under a master development agreement with the City of Austin’s Economic Development Department. The Green Water Redevelopment will return four acres of downtown property to the tax base while delivering 1.7 million sq. ft. of mixed-use development including residential, office, retail/restaurant and hospitality, according to the company.

“We’ve found an extraordinary partner in The Kor Group and their Austin Proper development, which will be central to the Greenwater Development,” said Adam Nims, principal, Trammel Crow Company. “The luxury hotel and residential offering completes our vision of making Greenwater the ultimate lifestyle work/live/stay/play development in all of Austin.”

Austin Proper Residences will combine the benefits of home ownership with a boutique luxury hotel, according to the company. Buyers have their choice of one- to three-bedroom residences that range from 921 to 2,608 sq. ft., and one- and two-story penthouses ranging from 3,425 to 6,789 sq. ft. The residences and penthouses will feature floor-to-ceiling windows for optimal views and natural light, spacious outdoor decks, and views of both Lady Bird Lake and the Texas Hill Country.

Property amenities include full hotel services for both residents and guests; two roof decks with swimming pools; a full spa and fitness center; a signature lobby restaurant and lounge; a coffee shop; and an elevated poolside restaurant. Owners at Austin Proper will receive exclusive privileges and benefits such as priority dining and spa reservations, preferred pricing on hotel services and accommodations for friends and family, four stories of underground parking, as well as extended benefits across all Proper hotels.