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
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$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 -
$600,000
48 E East AVE #3106
Austin, TX -
$530,000
70 Rainey ST #1310
Austin, TX -
$745,000
70 Rainey ST #1409
Austin, TX -
$651,583
70 Rainey ST #2605
Austin, TX -
$1,330,000
70 Rainey ST #1901
Austin, TX -
$799,000
54 Rainey ST #1018
Austin, TX -
$379,000
54 Rainey #519
Austin, TX -
$555,000
48 East AVE #1606
Austin, TX -
$930,000
48 E East AVE #1710
Austin, TX -
$625,000
54 Rainey ST #804
Austin, TX -
$489,900
40 N Interstate 35 #6D4
Austin, TX -
$830,000
48 East AVE #2711
Austin, TX -
$384,900
603 Davis ST #1906
Austin, TX -
$450,000
54 Rainey ST #1020
Austin, TX -
$839,000
603 Davis ST #1403
Austin, TX -
$1,199,000
70 Rainey ST #1204
Austin, TX -
$669,900
603 Davis ST #1709
Austin, TX -
$819,900
603 Davis ST #1502
Austin, TX -
$479,500
54 Rainey ST #616
Austin, TX
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$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
-
$600,000Lot Size17,904 sqft
Home Size740 sqft
Beds2 Beds
Baths2 Baths
-
$530,000Lot SizeN/A
Home Size718 sqft
Beds1 Bed
Baths1 Bath
-
$745,000Lot SizeN/A
Home Size1,128 sqft
Beds2 Beds
Baths2 Baths
-
$651,583Lot SizeN/A
Home Size837 sqft
Beds1 Bed
Baths1 Bath
-
$1,330,000Lot SizeN/A
Home Size1,697 sqft
Beds2 Beds
Baths2 Baths
-
$799,000Lot SizeN/A
Home Size1,956 sqft
Beds2 Beds
Baths3 Baths
-
$379,000Lot Size175 sqft
Home Size756 sqft
Beds1 Bed
Baths1 Bath
-
$555,000Lot Size17,904 sqft
Home Size1,036 sqft
Beds1 Bed
Baths1 Bath
-
$930,000Lot Size17,904 sqft
Home Size982 sqft
Beds2 Beds
Baths2 Baths
-
$625,000Lot Size305 sqft
Home Size1,189 sqft
Beds2 Beds
Baths2 Baths
-
$489,900Lot Size1,046 sqft
Home Size1,360 sqft
Beds2 Beds
Baths2 Baths
-
$830,000Lot Size17,904 sqft
Home Size1,036 sqft
Beds1 Bed
Baths2 Baths
-
$384,900Lot Size175 sqft
Home Size809 sqft
Beds1 Bed
Baths1 Bath
-
$450,000Lot Size175 sqft
Home Size750 sqft
Beds1 Bed
Baths1 Bath
-
$839,000Lot Size305 sqft
Home Size1,699 sqft
Beds2 Beds
Baths3 Baths
-
$1,199,000Lot SizeN/A
Home Size1,321 sqft
Beds2 Beds
Baths2 Baths
-
$669,900Lot Size262 sqft
Home Size1,286 sqft
Beds2 Beds
Baths2 Baths
-
$819,900Lot Size305 sqft
Home Size1,597 sqft
Beds2 Beds
Baths2 Baths
-
$479,500Lot Size218 sqft
Home Size852 sqft
Beds1 Bed
Baths1 Bath
