The groundbreaking for a 43-story 700 River apartment tower took place recently in downtown Austin, Texas. The development will be executed in a partnership between High Street Residential, MSD Partners, and River Street Partners. However, an estimated cost for the project’s execution and source of funding is still unknown.Â
Construction on the 700 River apartment tower is taking place just off East Cesar Chavez Street and I-35. The development will contribute to the recent growth of this former working-class region known to as the Rainey Street District. Ever since the city rezoned the area for high-density use in the mid-2000s, it has experienced more residential developments. This also includes hotels and other commercial components as well.
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Development plans for the 700 River apartment tower
700 River will reach a maximum height of 500 feet, occupying the site of two former bars and an empty lot. The tower will feature a 3,400-square-foot retail space and over 30,000 square feet of indoor and outdoor amenity spaces. Additionally, the tower will provide 377 upscale apartments, consisting of studio, one-, two- and three-bedroom as well as penthouses. What’s more, the design of the residential units ensures unobstructed views of Lady Bird Lake and downtown Austin’s skyline.
700 River will be directly accessible to the Ann and Roy Butler Hike and Bike Trail, along Rainey Street. Residents will also enjoy music, culture, and good food with restaurants and retail establishments situated within a 10-minute walk. One key focus of the project is its support for environmental sustainability. Therefore, the developers are working towards attaining the LEED Silver, Fritwell, and Austin Energy Two Star certifications.
The development team for the 700 River project will include DPR as the general contractor. HKS will serve as the project’s architect while working alongside Lake Flato architects. Other partners on the development include No Walls Studio, Cliviltude, Thornton Tomasetti, Blum Consulting Engineers, and Campbell Landscape Architecture. Construction is scheduled to reach completion by the latter part of 2024.
