Dig the articulation on that parking garage screening! It’s amazing what they’re doing with “metal” these days. Image: Natiivo / STG Design / Pearlstone Partners / Newgard Development Group
Natiivo, the Airbnb-powered “home sharing” concept currently under construction at 48 East Avenue in the Rainey Street District of downtown Austin, received a lot of attention both local and national regarding its unique ownership model after the project’s announcement earlier this year — and at the time of the tower’s groundbreaking ceremony back in August, its developers Pearlstone Partners and the Miami-based Newgard Development Group announced they’d already secured 100 unit reservations for the building, which will have 249 units total.
We assume that reservation number will rise when Natiivo opens its downtown “sales gallery” space, which should happen any day now at the corner of Fourth and Lavaca Streets — the signs are already up, so it’s only a matter of time. Seemingly in preparation for this next step, the building’s developers have connected us with some spiffy new renderings of the tower courtesy of its architects at STG Design:
Conspicuously absent from these renderings? The 44 East Avenue condo tower, which to be fair would block a lot of the Natiivo building from this angle. Image: Natiivo / STG Design / Pearlstone Partners / Newgard Development Group
Fairly visible in the aerial shots seen above and below are the building’s two outdoor amenity spaces — the first is located 10 stories up atop the tower’s parking podium, with the other at the very top on the 33rd floor. Natiivo’s reps inform us the lower terrace clocks in at 6,000 square feet, while the top deck squeezes in 7,000 square feet of swimming pool, deck, and “club room.”
Bam, there’s the sunset money shot — yeah, renderings lie, but this looks pretty good just the same. Image: Natiivo / STG Design / Pearlstone Partners / Newgard Development Group
While you’re enjoying the pretty pictures, it might be good to run back through the Natiivo business model real quick in case you’ve forgotten. In a nutshell, it’s built like a hotel, but as an investor you can buy an individual unit in that hotel and rent it out to guests on Airbnb, with the building’s management taking a cut of your profits in exchange for managing that unit — we explain the model in further detail in our previous coverage, but that’s basically the gist.
The brass at Pearlstone and Newgard say this approach opens the project to different categories of investors, particularly people who might not have the capital or time to purchase and manage a traditional standalone investment property for short-term rentals — and even if your profits are comparatively smaller after the management takes its cut, there’s definitely a place in the market for a “set it and forget it” investment you don’t have to clean yourself after every guest.
A view of the Natiivo building’s ground floor facing East Avenue. Image: Natiivo / STG Design / Pearlstone Partners / Newgard Development Group
Since its groundbreaking two months ago, the building’s made some real progress — according to its developers, the piles of its foundation will be finished by mid-month, with overall completion targeted for 2021. That date sounds straight out of science fiction, doesn’t it? We’re not getting any younger, man.
Rainey Street Condos For Sale
-
$2,978,000
70 Rainey #PH1
Austin, TX -
$1,518,000
44 East AVE #2001
Austin, TX -
$1,650,000
44 East AVE #3207
Austin, TX -
$365,000
603 Davis ST #1106
Austin, TX -
$825,000
603 Davis ST #1902
Austin, TX -
$790,000
603 Davis ST #1302
Austin, TX -
$1,847,000
70 Rainey ST #2606
Austin, TX -
$875,000
70 Rainey ST #2807
Austin, TX -
$563,273
70 Rainey #1709
Austin, TX -
$633,000
44 East AVE #1908
Austin, TX -
$961,910
44 East AVE #1410
Austin, TX -
$449,900
54 Rainey ST #319
Austin, TX -
$339,000
44 East AVE #2806
Austin, TX -
$631,583
70 Rainey ST #2505
Austin, TX -
$1,828,570
70 Rainey ST #2506
Austin, TX -
$830,700
70 Rainey ST #2307
Austin, TX -
$548,382
70 Rainey ST #2803
Austin, TX -
$1,200,000
70 Rainey ST #1501
Austin, TX -
$1,319,242
70 Rainey ST #1801
Austin, TX -
$2,800,000
44 East AVE #4504
Austin, TX -
$715,000
70 Rainey ST #3105
Austin, TX -
$2,200,000
70 Rainey ST #2801
Austin, TX -
$1,300,000
44 East AVE #4005
Austin, TX -
$594,999
603 Davis ST #1204
Austin, TX -
$1,250,000
70 Rainey ST #1304
Austin, TX
-
$2,978,000Lot SizeN/A
Home Size2,978 sqft
Beds3 Beds
Baths3 Baths
-
$1,518,000Lot SizeN/A
Home Size2,032 sqft
Beds3 Beds
Baths3 Baths
-
$1,650,000Lot SizeN/A
Home Size1,993 sqft
Beds3 Beds
Baths3 Baths
-
$365,000Lot Size175 sqft
Home Size809 sqft
Beds1 Bed
Baths1 Bath
-
$825,000Lot Size305 sqft
Home Size1,597 sqft
Beds2 Beds
Baths2 Baths
-
$790,000Lot Size218 sqft
Home Size1,597 sqft
Beds2 Beds
Baths2 Baths
-
$1,847,000Lot SizeN/A
Home Size2,179 sqft
Beds3 Beds
Baths3 Baths
-
$875,000Lot SizeN/A
Home Size1,128 sqft
Beds2 Beds
Baths2 Baths
-
$563,273Lot SizeN/A
Home Size718 sqft
Beds1 Bed
Baths1 Bath
-
$633,000Lot SizeN/A
Home Size793 sqft
Beds2 Beds
Baths2 Baths
-
$961,910Lot SizeN/A
Home Size1,260 sqft
Beds2 Beds
Baths2 Baths
-
$449,900Lot Size175 sqft
Home Size756 sqft
Beds1 Bed
Baths1 Bath
-
$339,000Lot SizeN/A
Home Size481 sqft
BedsN/A
Baths1 Bath
-
$631,583Lot SizeN/A
Home Size837 sqft
Beds1 Bed
Baths1 Bath
-
$1,828,570Lot SizeN/A
Home Size2,179 sqft
Beds3 Beds
Baths3 Baths
-
$830,700Lot SizeN/A
Home Size1,128 sqft
Beds2 Beds
Baths2 Baths
-
$548,382Lot SizeN/A
Home Size663 sqft
Beds1 Bed
Baths1 Bath
-
$1,200,000Lot SizeN/A
Home Size1,697 sqft
Beds2 Beds
Baths2 Baths
-
$1,319,242Lot SizeN/A
Home Size1,697 sqft
Beds2 Beds
Baths2 Baths
-
$2,800,000Lot SizeN/A
Home Size2,858 sqft
Beds4 Beds
Baths4 Baths
-
$715,000Lot SizeN/A
Home Size837 sqft
Beds1 Bed
Baths1 Bath
-
$2,200,000Lot SizeN/A
Home Size2,851 sqft
Beds3 Beds
Baths3 Baths
-
$1,300,000Lot SizeN/A
Home Size1,594 sqft
Beds3 Beds
Baths3 Baths
-
$594,999Lot Size218 sqft
Home Size1,252 sqft
Beds2 Beds
Baths2 Baths
-
$1,250,000Lot SizeN/A
Home Size1,321 sqft
Beds2 Beds
Baths2 Baths
