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You are here: Home / News / Natiivo ‘Home Sharing’ Tower Breaks Ground in the Rainey Street District
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Natiivo ‘Home Sharing’ Tower Breaks Ground in the Rainey Street District

James Rambin August 15, 2019 Comment

Representatives of the Natiivo project do their groundbreaking thing, complete with fancy shovels and a custom wheelbarrow. Photo by James Rambin.

A groundbreaking event took place this morning for Natiivo, the “Airbnb-powered” home sharing brand announced earlier this summer as the identity of the 33-story tower planned for many years at 48 East Avenue in the Rainey Street District.

It's rare to see the birth of a totally new product type. STR is effectively banned by downtown condo HOAs. Railyard and Brazos Lofts – the only DT buildings that allow STR – are likely to be sold soon, so Natiivo could become the only downtown condo building to allow STR. https://t.co/NPbFOkCrSo

— Jude Galligan (@downtown_austin) June 19, 2019

The Natiivo business model is pretty groundbreaking in its own right, as the first of its kind in the Austin market. Developed jointly by Austin’s Pearlstone Partners and Miami-based outfit Newgard Development Group, the project is technically permitted as a 249-unit hotel, but will allow buyers to purchase individual rooms and rent them out to guests via Airbnb. The building’s management receives a cut of the profits from these short-term rentals, in exchange for providing hotel-style amenities including cleaning, concierge, and valet services. 

A rendering of the Natiivo tower planned at 48 East Avenue. Image: Natiivo Austin

The unique business model of the Natiivo concept, combined with common frustrations regarding Airbnb properties and other short-term rentals, means its developers are doing their best to make inroads with the project’s neighbors — in this case, the Rainey Neighbors Association. Developers Harvey Hernandez of Newgard and Robert Lee of Pearlstone presented Rainey NA president Sandra De Leon with a $5,000 donation in giant novelty check form, ostensibly for improvements to the district including its various mobility woes, though specific uses weren’t identified.

Rainey Neighbors Association president Sandra De Leon (left), Newgard Development Group CEO Harvey Hernandez (center), and Pearlstone Partners CEO Robert Lee (right), holding a big ol’ check. Photo by James Rambin.

Even though the groundbreaking itself is symbolic, the developers say work should kick off here shortly. In fact, construction staging for the project is already underway on the opposite site of East Avenue near Lambie Street, and following its current schedule, the building should open in 2021. Per Natiivo Austin’s management, 100 units have already been reserved at the property, with prices starting in the $400,000s.

Rainey Street Condos For Sale

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  • $925,000 44 East Avenue #3807
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  • $1,325,000 40 N Interstate 35 #10A2
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44 East Avenue #3008
Austin, TX
Photo of 44  East Avenue #3008, Austin, TX 78701 (MLS # 9263373)
$798,500
Lot Size
N/A

Home Size
793 sqft

Beds
2 Beds

Baths
2 Baths

44 East Avenue #3807
Austin, TX
Photo of 44  East Avenue #3807, Austin, TX 78701 (MLS # 9478216)
$925,000
Lot Size
N/A

Home Size
796 sqft

Beds
2 Beds

Baths
2 Baths

44 East Avenue #1706
Austin, TX
Photo of 44  East Avenue #1706, Austin, TX 78701 (MLS # 9713307)
$550,000
Lot Size
N/A

Home Size
538 sqft

Beds
1 Bed

Baths
1 Bath

44 East Avenue #3806
Austin, TX
Photo of 44  East Avenue #3806, Austin, TX 78701 (MLS # 3473113)
$1,100,000
Lot Size
N/A

Home Size
796 sqft

Beds
2 Beds

Baths
2 Baths

40 N Interstate 35 #10A2
Austin, TX
Photo of 40 N Interstate 35 #10A2, Austin, TX 78701 (MLS # 8389452)
$1,325,000
Lot Size
1,961 sqft

Home Size
2,536 sqft

Beds
2 Beds

Baths
3 Baths

  • 44 East Avenue #3008
    Austin, TX
    Photo of 44  East Avenue #3008, Austin, TX 78701 (MLS # 9263373)
    $798,500
    Lot Size
    N/A

    Home Size
    793 sqft

    Beds
    2 Beds

    Baths
    2 Baths

  • 44 East Avenue #3807
    Austin, TX
    Photo of 44  East Avenue #3807, Austin, TX 78701 (MLS # 9478216)
    $925,000
    Lot Size
    N/A

    Home Size
    796 sqft

    Beds
    2 Beds

    Baths
    2 Baths

  • 44 East Avenue #1706
    Austin, TX
    Photo of 44  East Avenue #1706, Austin, TX 78701 (MLS # 9713307)
    $550,000
    Lot Size
    N/A

    Home Size
    538 sqft

    Beds
    1 Bed

    Baths
    1 Bath

  • 44 East Avenue #3806
    Austin, TX
    Photo of 44  East Avenue #3806, Austin, TX 78701 (MLS # 3473113)
    $1,100,000
    Lot Size
    N/A

    Home Size
    796 sqft

    Beds
    2 Beds

    Baths
    2 Baths

  • 40 N Interstate 35 #10A2
    Austin, TX
    Photo of 40 N Interstate 35 #10A2, Austin, TX 78701 (MLS # 8389452)
    $1,325,000
    Lot Size
    1,961 sqft

    Home Size
    2,536 sqft

    Beds
    2 Beds

    Baths
    3 Baths

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Filed Under: News Tagged With: 78701, architecture, city life, construction, design, development, hotels, rainey street district, urbanism

About James Rambin

James is an Austin native and fifth-generation Texan, but tries not to brag about it. Email him anything at james@towers.net.

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