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You are here: Home / News / See Inside Natiivo, the Rainey Street District’s ‘Home-Sharing’ Experiment
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See Inside Natiivo, the Rainey Street District’s ‘Home-Sharing’ Experiment

James Rambin January 14, 2020 Comment

Image: Natiivo / STG Design / Pearlstone Partners / Newgard Development Group

The “home-sharing” concept of the 33-floor Natiivo tower, now under construction at 48 East Avenue on the edge of downtown Austin’s ever-growing Rainey Street District, will introduce some new forces to the local hospitality and short-term rental market. In fact, if we were advertising the project, the first of its kind in the city, we might describe its potential effects as “disruption” — even if that sounds a little hokey.

Image: Natiivo / STG Design / Pearlstone Partners / Newgard Development Group

The creation of local real estate firm Pearlstone Partners and the Miami-based Newgard Development Group, Natiivo celebrates the opening of its downtown sales gallery this morning at 219 West Fourth Street, also known as the southeast corner of Fourth and Lavaca Streets — and the developers are commemorating that milestone by releasing a couple of new interior renderings of the building, showing the design and finishes of a bedroom and bathroom in one of its units:

On the left, a rendering of a bedroom space at the Natiivo building. On the right, a rendering of a bathroom space. Images: Natiivo / Pearlstone Partners / Newgard Development Group

The Natiivo sales gallery also includes a physical model of the tower, and if you’re familiar with our work, you’ll know we get pretty hyped about that sort of thing:

Image: Natiivo / Pearlstone Partners / Newgard Development Group

Built and permitted essentially as a hotel, Natiivo’s 249 furnished units, including studios, one-bedrooms, and two-bedrooms, are sold to individual buyers in roughly the same vein as vacation properties. As the owner, you can stay there whenever you like — though you can’t occupy your unit as a primary residence — but more importantly, you can rent that unit to guests on Airbnb (or other similar platforms), with the building handling the nitty gritty management stuff like cleaning and laundry service in exchange for a cut of your profits. You’re basically paying extra to avoid the annoying parts of running a rental property.

A mocked-up living room at the Natiivo sales gallery, showing the expected design of its completed units. Image: Natiivo / Pearlstone Partners / Newgard Development Group

Another view of the living space in the Natiivo sales gallery. Image: Natiivo / Pearlstone Partners / Newgard Development Group

One thing that’s unclear at the moment is how often the building’s investors will actually choose to list their units for rental. If a reasonable percentage of its 249 total units are frequently offered on Airbnb, such a significant increase in rental supply for the area compared to what’s available now could actually drive down prices as the building effectively competes against itself, not to mention the four or five hotel projects currently in the planning stages in the immediate Rainey area.

A mocked-up kitchen at the Natiivo sales gallery, showing the expected design of its completed units. Image: Natiivo / Pearlstone Partners / Newgard Development Group

Then again, Austin’s seen a massive increase in hotel construction over the last five years, and it seems like we’re still filling those rooms just fine — these are just the questions you have to face when you’re introducing a previously-unseen business model. Natiivo’s developers say the building is “50 percent reserved” at this point, so unless you’re planning to buy a unit yourself — at the moment, they’re starting in the $500k’s — we’ll just have to wait and see how this new approach fares in Austin’s growing hospitality market. The building is currently scheduled to open in 2021.

Rainey Street Condos For Sale

  • $2,995,000 70 Rainey Street #3201
    Austin, TX
  • $549,000 54 Rainey Street #707
    Austin, TX
  • $548,000 70 Rainey Street #1203
    Austin, TX
  • $549,000 54 Rainey Street #418
    Austin, TX
  • $3,000,000 70 Rainey Street #2901
    Austin, TX
70 Rainey Street #3201
Austin, TX
Photo of 70  Rainey Street #3201, Austin, TX 78701 (MLS # 6788758)
$2,995,000
Lot Size
N/A

Home Size
2,978 sqft

Beds
3 Beds

Baths
3 Baths

54 Rainey Street #707
Austin, TX
Photo of 54  Rainey Street #707, Austin, TX 78701 (MLS # 1197537)
$549,000
Lot Size
436 sqft

Home Size
1,164 sqft

Beds
2 Beds

Baths
2 Baths

70 Rainey Street #1203
Austin, TX
Photo of 70  Rainey Street #1203, Austin, TX 78701 (MLS # 1884483)
$548,000
Lot Size
N/A

Home Size
663 sqft

Beds
1 Bed

Baths
1 Bath

54 Rainey Street #418
Austin, TX
Photo of 54  Rainey Street #418, Austin, TX 78701 (MLS # 8593610)
$549,000
Lot Size
436 sqft

Home Size
1,164 sqft

Beds
2 Beds

Baths
2 Baths

70 Rainey Street #2901
Austin, TX
Photo of 70  Rainey Street #2901, Austin, TX 78701 (MLS # 1936461)
$3,000,000
Lot Size
436 sqft

Home Size
2,851 sqft

Beds
3 Beds

Baths
3 Baths

  • 70 Rainey Street #3201
    Austin, TX
    Photo of 70  Rainey Street #3201, Austin, TX 78701 (MLS # 6788758)
    $2,995,000
    Lot Size
    N/A

    Home Size
    2,978 sqft

    Beds
    3 Beds

    Baths
    3 Baths

  • 54 Rainey Street #707
    Austin, TX
    Photo of 54  Rainey Street #707, Austin, TX 78701 (MLS # 1197537)
    $549,000
    Lot Size
    436 sqft

    Home Size
    1,164 sqft

    Beds
    2 Beds

    Baths
    2 Baths

  • 70 Rainey Street #1203
    Austin, TX
    Photo of 70  Rainey Street #1203, Austin, TX 78701 (MLS # 1884483)
    $548,000
    Lot Size
    N/A

    Home Size
    663 sqft

    Beds
    1 Bed

    Baths
    1 Bath

  • 54 Rainey Street #418
    Austin, TX
    Photo of 54  Rainey Street #418, Austin, TX 78701 (MLS # 8593610)
    $549,000
    Lot Size
    436 sqft

    Home Size
    1,164 sqft

    Beds
    2 Beds

    Baths
    2 Baths

  • 70 Rainey Street #2901
    Austin, TX
    Photo of 70  Rainey Street #2901, Austin, TX 78701 (MLS # 1936461)
    $3,000,000
    Lot Size
    436 sqft

    Home Size
    2,851 sqft

    Beds
    3 Beds

    Baths
    3 Baths

Previous Next
 

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Filed Under: News Tagged With: 78701, architecture, design, development, hotels, rainey street district

About James Rambin

James is an Austin native, but tries not to brag about it. He writes about new development, local history, and urban design. Email him anything at james@towers.net.

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