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
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$385,000
54 Rainey ST #703
Austin, TX -
$700,000
54 Rainey ST #1212
Austin, TX -
$500,000
40 N Interstate 35 #5C3
Austin, TX -
$625,000
54 Rainey ST #521
Austin, TX -
$495,000
54 Rainey ST #PH20
Austin, TX -
$589,000
54 Rainey ST #718
Austin, TX -
$795,900
603 Davis ST #1202
Austin, TX -
$600,000
54 Rainey ST #101
Austin, TX -
$798,000
44 East AVE #1407
Austin, TX -
$1,010,000
44 East AVE #3704
Austin, TX -
$469,000
40 N Interstate 35 HWY #3C4
Austin, TX -
$695,000
70 Rainey ST #2905
Austin, TX -
$605,000
40 N Interstate 35 #6D3
Austin, TX -
$1,753,000
54 Rainey ST #1222
Austin, TX -
$374,999
603 Davis ST #906
Austin, TX -
$685,000
603 Davis ST #1509
Austin, TX -
$385,000
603 Davis ST #1307
Austin, TX -
$439,000
40 N Interstate 35 #2B2
Austin, TX -
$1,400,000
70 Rainey ST #2208
Austin, TX -
$362,000
44 East AVE #1806
Austin, TX -
$429,750
44 East AVE #1303
Austin, TX -
$443,000
54 Rainey ST #920
Austin, TX -
$534,000
48 East AVE #2405
Austin, TX -
$534,570
48 East AVE #1903
Austin, TX -
$548,000
48 East AVE #1707
Austin, TX
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$385,000Lot Size218 sqft
Home Size865 sqft
Beds1 Bed
Baths1 Bath
-
$700,000Lot Size305 sqft
Home Size1,164 sqft
Beds2 Beds
Baths2 Baths
-
$500,000Lot SizeN/A
Home Size1,288 sqft
Beds2 Beds
Baths2 Baths
-
$625,000Lot SizeN/A
Home Size1,164 sqft
Beds2 Beds
Baths2 Baths
-
$495,000Lot SizeN/A
Home Size798 sqft
Beds1 Bed
Baths1 Bath
-
$589,000Lot Size436 sqft
Home Size1,164 sqft
Beds2 Beds
Baths2 Baths
-
$795,900Lot Size305 sqft
Home Size1,597 sqft
Beds2 Beds
Baths2 Baths
-
$600,000Lot Size349 sqft
Home Size1,294 sqft
Beds2 Beds
Baths2 Baths
-
$798,000Lot SizeN/A
Home Size1,221 sqft
Beds2 Beds
Baths2 Baths
-
$1,010,000Lot SizeN/A
Home Size1,258 sqft
Beds3 Beds
Baths2 Baths
-
$469,000Lot Size1,133 sqft
Home Size1,459 sqft
Beds2 Beds
Baths2 Baths
-
$695,000Lot SizeN/A
Home Size837 sqft
Beds1 Bed
Baths1 Bath
-
$605,000Lot Size1,220 sqft
Home Size1,533 sqft
Beds2 Beds
Baths2 Baths
-
$1,753,000Lot Size610 sqft
Home Size2,418 sqft
Beds2 Beds
Baths3 Baths
-
$374,999Lot Size175 sqft
Home Size809 sqft
Beds1 Bed
Baths1 Bath
-
$685,000Lot Size262 sqft
Home Size1,286 sqft
Beds2 Beds
Baths2 Baths
-
$385,000Lot Size131 sqft
Home Size879 sqft
Beds1 Bed
Baths1 Bath
-
$439,000Lot Size1,133 sqft
Home Size1,459 sqft
Beds2 Beds
Baths2 Baths
-
$1,400,000Lot SizeN/A
Home Size1,434 sqft
Beds2 Beds
Baths2 Baths
-
$362,000Lot SizeN/A
Home Size538 sqft
Beds1 Bed
Baths1 Bath
-
$429,750Lot SizeN/A
Home Size618 sqft
Beds1 Bed
Baths1 Bath
-
$443,000Lot Size175 sqft
Home Size750 sqft
Beds1 Bed
Baths1 Bath
-
$534,000Lot Size17,904 sqft
Home Size706 sqft
Beds1 Bed
Baths1 Bath
-
$534,570Lot Size17,904 sqft
Home Size641 sqft
Beds1 Bed
Baths1 Bath
-
$548,000Lot Size17,904 sqft
Home Size699 sqft
Beds1 Bed
Baths1 Bath
