AUSTIN, TEXAS — A partnership between Dallas-based Lincoln Property Co. and San Antonio-based Kairoi Residential has completed Waterline, a 74-story mixed-use tower located at 98 Red River St. in downtown Austin. According to the development team, at 1,025 feet, Waterline is now the tallest building in Texas.
The 2.7 million-square-foot building gets its name from the site’s location near the nexus of Waller Creek and Lady Bird Lake. Construction of Waterline began in fall 2022 and topped out last August. According to the development team, construction was completed two months ahead of schedule.
Waterline features approximately 350 apartments on the top 33 floors called Bosque Residences at Waterline, in addition to some 700,000 square feet of office space, a 251-room hotel that will be operated under the 1 Hotels brand and 24,000 square feet of ground-floor retail and restaurant space.
Residential amenities include two pools, a fitness center, lounge, kitchen and coworking space. Office tenants also have access to a fitness center, as well as a bar and lounge and indoor meeting spaces.
Kohn Pedersen Fox (KPF) served as the architect for Waterline, and DPR Construction acted as the general contractor. Canadian pension fund PSP Investments was an equity partner on the project along with Lincoln and Kairoi. Blackstone Mortgage Trust provided construction financing.
“Waterline pushed every assumption about scale, complexity and coordination,” says Brett Bickford, project executive at DPR Construction. “This was a massive undertaking, and we wouldn’t be where we are today without our talented and resilient team of skilled craft professionals and trade partners.”
- Taylor Williams