Natiivo Austin’s ‘Home Sharing’ Concept is 99 Percent Sold in the Rainey District – TOWERS
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Image: Natiivo / STG Design / Pearlstone Partners / Newgard Development Group
An unorthodox ownership model and the economic pressures of a pandemic have failed to contain Natiivo Austin, although its unique “home-sharing” concept remains the only fundamental development of its kind in the region. As of today, the developers of the 33-story tower have joined Pearlstone partner and Newgard Development Group together with the sales team from Prospective real estate confirm it 249 units are over “99 percent sold” which means that this community is now rising at 48 East Avenue According to its developers, there is still another unit for sale on the edge of the Rainey Street District.
Image: Natiivo / STG Design / Pearlstone Partners / Newgard Development Group
The tower, which peaked late last year and is now in the final stages of construction, will soon unveil a business model that looks like a hotel disguised as a condominium for Halloween. As the owner, you can stay in your apartment at any time – although you cannot have this apartment as your main residence or apply the homestead exemption on your taxes, as the project was technically built as a hotel. When you are not there, you can rent your apartment on any online booking platform such as Airbnb or Expedia. In exchange for a portion of the profits from these rentals, the building offers hotel-like amenities such as laundry, valet parking, and housekeeping.
Image: Natiivo / STG Design / Pearlstone Partners / Newgard Development Group
Even in Austin’s endless powerhouse of a market, we have to admit we weren’t sure how quickly units would sell at Natiivo as there is nothing like it in town. While the building’s location on the hugely popular downtown Rainey Street is an obvious draw, we were puzzled by certain aspects of the project – including the fact that all units are only available pre-furnished, the occupancy limits of a hotel versus residential use, and the question of how profitable these units could be as an investment. With initial prices ranging from mid-400 to $ 1.2 million, it will be fascinating to see Natiivo grow in value over time.
A sample living room showing the expected interior design of a unit in the Natiivo building. Image: Natiivo
Our business model questions aside, 99 percent speak ownership before the building even opens, and the appeal of the project might not just be a local thing – Natiivo Miami appears to be doing pretty well too. In addition to the developers, the Natiivo Austin team also includes a local architecture office STG design, Landscape architecture office dwg., General contractor AECOM hunting, and the New York-based home interior design studio INC architecture and design, The building is reportedly set to open its doors to owners and guests by the end of the year.
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