Lincoln Ventures to Develop 49-Story Apartment Tower in Austin’s Rainey Street District
AUSTIN, TEXAS — Austin-based developer Lincoln Ventures has unveiled plans to build a 49-story apartment tower in the heart of Austin’s Rainey Street District. Located at 80 Rainey St., the project will include 644 units as well as retail space.
Lincoln Ventures expects to break ground on the tower next summer with completion slated for summer 2025. The site includes two bungalows that will be preserved as part of the project.
“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,” says David Kanne, CEO of Lincoln Ventures. “We will also maintain the character of Rainey Street by bringing in local Austin artists to design public art pieces and will place new, oversized trees along the public parkway section along the entire façade of the building.”
The tower’s ground and second floors will include several food and beverage concepts, including a dedicated 2,200-square-foot space that will serve coffee during the day and cocktails at night. A special elevator lobby will offer public access to the 11th-floor pool deck and bar, the first of its kind in Rainey Street, according to Lincoln Ventures.
The apartments at the to-be-named project will come in a variety of sizes and will include an estimated 20 units of affordable housing. Residents will have access to a private rooftop pool and lounge on the 49th floor, as well as amenity decks and coworking spaces on floors 11 to 13.
The project team includes general contractor JE Dunn, architect Pappageorge Haymes Partners, civil engineer Wuest Group, mechanical engineer Blum, structural engineer DCI and landscape architect TBG. Drenner Group is serving as zoning counsel for the project.
Since its founding in 2012, Lincoln Ventures has expanded its business to include student housing, multifamily, mixed-use and office assets in excess of $1.2 billion.
— Kristin Hiller