An Austin-based developer plans to start construction next year on a 48-story residential tower in the Rainey Street district on downtown Austin’s southeast side. The proposed high-rise would add to the ongoing building boom in the Rainey Street area, and in downtown in general.
Pearlstone Partners plans to build the tower on two adjacent tracts that span from 62 East Ave. to 64 East Ave. Although plans are still preliminary, Pearlstone executives say they envision a tower with 48 stories and 245 condominium units, although those numbers “could all very much change as we move through the design process,” said Chris Zaiontz, a Pearlstone senior vice president and principal.
