Waterloo Tower, the tallest new student-housing hive on the scene, is open and ready to rock. The building was delivered ahead of schedule and is already fully leased, according to a press release from Austin multifamily and student housing developer LV Collective.
The 30-story high-rise is at 2400 Seton Avenue in the West Campus neighborhood a few blocks from the University of Texas at Austin. It has a total area of 229,728 square feet, 241 units, and 796 beds. It's also 100 percent preleased, and students are already moving in.
Already in one of the densest neighborhoods in Central Housing, Waterloo Tower The first of its height in West Campus, the 300-foot Waterloo Tower was the beneficiary of a 2019 density bonus amendment made to the University Neighborhood Overlay — the city-sanctioned plan for the area.
Density bonuses allow developers to build more units than are allowed by a site’s base zoning in exchange for setting aside units for income-restricted affordable housing as it's defined by the city’s SMART Housing programs.
In exchange for the extra space it was allowed, Waterloo Tower allocates two floors, or 20 percent of the total units, to affordable housing — meaning 10 of the units go to residents who earn no more than 60 percent of Austin’s median family income. Another 10 percent are reserved for of the units for people who earn no more than 50 percent of the MFI.
Builders broke ground on Waterloo Tower in 2020, shortly after the start of the pandemic. It nevertheless was finished ahead of schedule, according to LV.
In addition to student-focused housing, the building features lobby cafe Daydreamer Coffee and a rooftop pool and hot tub with views of downtown Austin, the Hill Country, and the UT campus.
JE Dunn was the general contractor on Waterloo Tower. Boka Powell was the architect, TBG Partners was the landscape architect, and Chelsea Kloss was the interior designer. DCI was the structural engineer, and Atlanta's Quest Group was the civil engineer.