Pearlstone's Newest Condo Tower in Rainey Street District

Pearlstone's Newest Condo Tower in Rainey Street District


Source: Cody Baird
Austin Business Journal

A brand-new condominium tower near Rainey Street has commenced its first wave of tenant arrivals.

Photo credits to Vesper ATX

Named Vesper, this 41-story tower developed by Austin-based Pearlstone Partners has initiated the move-in process for pre-sold units starting April 23, as per an official announcement. Pearlstone has emerged as a prominent developer of condominiums in Austin, boasting a robust portfolio of projects either in development or under construction at prime locations across the city.

Prospect Real Estate serves as the sales agency responsible for Vesper’s condominiums. These condos, situated within the 270,000-square-foot tower, are available in one-bedroom, two-bedroom, and one-bedroom with den configurations, along with penthouse units. Remarkably, Vesper has already secured 67% of its units, with prices ranging from $545,000 to $2 million. "There's a substantial portion already spoken for, which bodes well for potential buyers," remarked Tayler Davis, Pearlstone's marketing director. "We've been highly satisfied with Prospect Real Estate's sales efforts, and anticipate a further uptick in sales now that buyers can begin moving in."

Vesper offers an array of amenities including a rooftop pool and lounge, fitness center, co-working spaces, dog park with washing station, and round-the-clock concierge service.

Photo credits to Vesper ATX - Open Lounge Plan

Apart from Vesper, Pearlstone is gearing up to welcome residents to its Parkside in Mueller project located at 1808 Aldrich St. later this summer. This mixed-use development comprises 200 units spread over 225,000 square feet, all of which have already been pre-sold. Progress is also underway on Pearlstone's condo project at 2323 South Lamar Blvd., which was formerly known as Montage South Lamar. Renamed as Zephyr, this 182-unit condo development, which broke ground in March 2023, is slated for completion by the second quarter of 2025. Zephyr's condos will be available in studio, one-bedroom, and two-bedroom layouts ranging from 677 to 1,357 square feet, with prices ranging from $545,000 to over $1 million.

In November, Pearlstone unveiled three new projects — the Pressler, 62 East, and 14th & Lavaca — with an estimated combined construction cost of approximately $700 million.

Source: 
C. Baird (2024). Austin Business Journal. Retrieved from https://www.bizjournals.com/austin/news/2024/04/24/pearlstone-austin-condos-rainey-street.html

5 Properties
$419,999
Condo: Whispering Valley Condo Amd
2
Beds
2F11/2
Baths
1,119
Sq.Ft.
1999
Year Built
20
Days on Site
6113388
MLS
$2,595 / month
Condo: Whispering Valley Condo Amd
2
Beds
2F11/2
Baths
1,119
Sq.Ft.
1999
Year Built
26
Days on Site
9102966
MLS
$399,000
Neighborhood: MYERS, C. SUR
2
Beds
1
Baths
924
Sq.Ft.
1963
Year Built
97
Days on Site
2377530
MLS
$1,150,000
Condo: Marina Village At Lakeway Condo
3
Beds
3
Baths
2,226
Sq.Ft.
2008
Year Built
103
Days on Site
8948415
MLS
$1,400,000
Neighborhood: Burleson, Jonathan
89.44
Acres
193
Days on Site
2145268
MLS
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