Pearlstone Partners, developer of a number of key central Austin projects including Vesper and Parkside at Mueller, is ready for its new role in downtown's western expansion. The company announced last week that it's set to move forward with the Belvedere luxury condominiums at West Third and Pressler streets in Old West Austin/Clarksville.
The three-building condo complex will be on three acres just south of the Union Pacific/Amtrak railroad tracks and will have access to the Ann and Roy Butler Hike-and-Bike Trail and views of Lady Bird Lake.
The Belvedere will have six stories and 247 one- to three-bedroom residences of 717 square feet to 2,336 square feet. Developers expect prices to range from the upper $700,000s to over $2 million.
Plans for the site also include a restaurant and bar, secured-access garage parking, 24-hour concierge service, co-working space, a fitness studio, conference rooms, a media room, and a pet lounge with grooming stations.
Also on deck is a 135-foot swimming pool with a 60-foot resort-style social area and a 75-foot lap pool section.
The company has started ground prep work for an expected spring groundbreaking, with immediate plans to build a direct extension path to the Lance Armstrong Bikeway and the Butler Trail. The company will create green space and landscaping improvements along the path, which is about 500 yards from Lady Bird Lake, and an outdoor plaza for the Belvedere.
While Pearlstone has secured funding through Phase 1 of the project, it's looking for equity partners for vertical construction scheduled for the spring.
