What's the tallest tower on Austin's skyline? It's not done growing yet!
Which is the tallest of them all?
Andy Smith, senior vice president of Lincoln Property Co. in Austin, says it's now Waterline, a 74-story skyscraper Lincoln is developing in partnership with Kairoi Residential.
Waterline, currently under construction at 98 Red River St. in Austin's Rainey Street District, is set to become the tallest building in Texas upon its completion next year. Developers say the tower will surpass the state's current record-holder, the 1,002-foot JPMorgan Chase Tower in downtown Houston.
At its pinnacle, Waterline will soar 74 stories into the air, eclipsing the dozens of high-rises that have transformed Austin's skyline over the past couple of decades.
Right now, crews are pouring Waterline's 68th story, Smith posted April 22 on LinkedIn. That means Waterline, although a few stories short of reaching its full height of 1,022 feet, has already eclipsed Sixth and Guadalupe. At 66 stories, Sixth and Guadalupe is the tallest completed building on the skyline.
More: As it grows in Austin, Facebook's parent company signs big lease in 66-story tower
Lincoln teamed with San Antonio-based Kairoi on Sixth and Guadalupe, and the companies also are partners on Waterline.
Lincoln Property Co. also is building the Republic, a 48-story office tower that is underway next to Republic Square Park in downtown Austin.
Plans for Waterline call for 352 apartments; 700,000 square feet for offices; retail and restaurant space; and a 251-room 1 Hotel Austin, the first 1 brand hotel in Austin. The tower is due to be completed in late summer 2026.
More: Facebook/Meta changes plans, won't move into office space in new Austin tower
Here's what Smith posted online:
"We are now the tallest building in Austin, having surpassed Sixth and Guadalupe. ... The office space is completely enclosed and we are pouring level 68 (of 74) and should be topped out early summer. Also busy putting in the landscape on our 14th floor office amenity level. This project is amazing and a one-of-a-kind for Austin and Texas. The office space will feature 700,000 SF of unobstructed views of...Everywhere!! The three uses (office, residential, and hotel) all have completely separate amenities, entrances and parking making your experience as a tenant, resident or guest uniquely your own."
When Waterline broke ground in 2022, the prospect of a recession loomed.
More: 1 Hotels is set to join 74-story tower development in Downtown's Rainey district
At that time, Michael Lynd Jr., Kairoi's chief executive officer, acknowledged that the economy was "in a period of retraction."
But he went on to say: "Downturns and values are points in time. It's easy to lose sight of what makes Austin one of the best markets in the country."
More: Despite economic worries, Austin still 'one of the best markets in the country'
"It's easy to be uncertain with the economy beginning to contract and the Fed fighting a period of unprecedented inflation for our modern economy," Lynd wrote in an email to the Statesman in November 2022.
"We've gone from record-high values, record rent growth and a sustained period of historically low interest rates to a period of uncertainty and macro headwinds. Tech is also coming off a historic and unprecedented period of growth which has fueled the Austin economy."
More: Impact on Austin unclear as Facebook's parent company to lay off 11,000 workers
But Lynd reiterated Kairoi's belief in Austin at that time.
"We are confident in Austin's long-term growth prospects and massive macro tailwind," Lynd said. "Austin still possesses an unparalleled lifestyle, an incredibly educated workforce, and it enjoys the advantages afforded by Texas' tax and regulatory environment. These attributes will continue to be attractive to businesses interested in expanding or relocating."
This article originally appeared on Austin American-Statesman: On its ascent to 74 stories, Waterline dominates Austin's skyline
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