Published on September 8th, 2017 | by Dave Fidlin
Austin Proper On Track For Late 2018 Completion
Nearly a year has passed since ground broke on Austin Proper, the 32-story hotel and condo tower in the city’s Second Street District, and officials close to the project say its completion timeline remains on track.
Los Angeles-based Kor Group is the developer behind the project, which is joining Austin’s skyline at the site of the former Thomas C. Green Water Treatment Plant, 202 Nueces St.
Matthew Green, managing partner with Kor Group’s Austin branch and the firm’s vice president of acquisitions and development, said a substantial amount of work on the first several floors of Austin Proper has been completed.
“It will start to look real once the scaffolding is out of the way,” Green said of visible progress from the street view. “Construction has been going very well. Everything is so far, so good right now.”
The milestone for the soon-to-be 500,000-square-foot project is notable. Construction work officially began Sept. 9, 2016.
From the get-go, the Kor Group pitched Austin Proper as a hybrid hotel and condo development, and Green said there have not been any alterations to the core components of the project since work got underway.
When all is said and done, Austin Proper will feature 10 penthouses, 99 condominiums and 244 hotel rooms. A variety of amenities are planned throughout the development. The hotel portion will feature a restaurant, coffee shop, meeting rooms and a fitness center and spa area. Permanent condo dwellers, meanwhile, will be privy to such features as a sundeck on the top floor, dedicated parking spaces, pet grooming salon and a doorman and concierge area.
While some of the specifics with the hotel end of the project are still being set in stone, The Kor Group does have price points in place for the permanent residential areas of the building. On the lower end of the spectrum, a one-bedroom unit is expected to cost around $600,000. Conversely, a five-bedroom, two-story penthouse is priced in the ballpark of $8 million.
Green said Austin Proper is expected to open in a tiered structure. The hotel component should be up and running by the end of 2018, Green said, while the first condo owners will likely begin taking residence in April 2019.
“The plan is to open everything on a floor-by-floor basis,” Green said.
The Kor Group has assembled a team touted as offering a global appeal to the project and intermingling it with a local perspective that will appeal to Austin residents and guests.
The team includes:
- Interior designer Kelly Wearstler. In a statement, Wearstler said she and her team “are designing into local elements with a highly collaborative team of artisans and craftsmen that uniquely embody the spirit and soul of the community.”
- McGuire Moorman Hospitality, owned by local chefs Larry McGuire and Tom Moorman, will oversee the restaurant. Speaking to his philosophy of this city, McGuire in a statement said, “People are moving to Austin to live in a pared-down, comfortable, healthy and engaged lifestyle.”
- Proper Hospitality, which is overseeing the hotel portion of the project. “Proper brings world-class service to creative and culturally vibrant cities,” Brian De Lowe, co-founder and president, said in a statement.