web analytics

1 Hotel Austin to be Part of 98 Red River Tower Project

Feature Illustration: Artist rendering of the ground floor of the proposed project by WGI.

Posted: 6-7-2022

Austin (Travis County)1 Hotels, the mission-driven, sustainably focused luxury lifestyle hotel brand founded by hospitality visionary Barry Sternlicht, has announced plans to add a new sanctuary to its global portfolio of premier properties. 

With properties in New York City (Brooklyn Bridge, Central Park), West Hollywood, Sanya (China), South Beach, Toronto, and San Francisco, 1 Hotel Austin is the brand’s entry point into the fast-growing Texas marketplace. 

The 98 Red River tower project is being developed in partnership with Lincoln Property Company and Kairoi Residential.

VBX last reported on the project in March, when the 74-story tower was expected to become the tallest building in Texas.  

1 Hotel Austin will be an integral component of an innovative mixed-use hotel, residential and retail project currently under construction at the meeting of Waller Creek and Lady Bird Lake. 

Upon completion, the property will overlook a verdant green gateway to the historic Rainey Street District. Every exterior and interior feature radically reduce the facility’s environmental impact and will restore the beauty of nature to a long-neglected creek-side site, conveniently located in the heart of the Lone Star State’s cultural, musical and political capital, within walking distance of most every activity that the proclaimed Live Music Capital of the World has to offer.

“In one compelling location, 1 Hotel Austin captures the rich diversity of ingredients and experiences that make our brand’s offering unique,” said 1 Hotels Founder and CEO & Chairman of Starwood Capital Group Barry Sternlicht. “When we open our doors, our guests will immerse themselves in the energetic attractions of the Austin creative community while simultaneously serving a restorative relationship to the Hill Country’s natural beauty. We have never been more deliberate about aligning our creative process with our brand’s purpose of connecting our guests to the beauty of nature, to each other, and most memorably, creating an ‘oasis’ for themselves.”

“The 1 Hotels brand is the perfect complement to our mixed-use development, as it will embody the natural beauty of Waterloo Greenway,” said Tony Curp, senior vice president of development at Kairoi. “We look forward to 1 Hotel Austin setting a new benchmark for sustainable luxury that will be virtually impossible to match.”  

“As an ownership group, we are thrilled to be bringing 1 Hotel to Austin. The quality of their product and their commitment to refined sustainability align with our values both as a company and as a city,” said Seth Johnston, senior vice president Lincoln Property Company. “We are looking forward to 1 Hotel integrating seamlessly into the fabric of the Austin community.”

WGI is the civil engineer and the rest of the project team includes Dallas-based HKS, Inc., KPF, TBG Partners, Nudge Design and DPR Construction.

The tower would include office, retail, hotel and apartment residential uses with an estimated cost of $520 million. The hotel is expected to open by 2026.

Edited from news release.


art@virtualbx.com

Related Images

Industry News
By |2022-06-07T14:02:45-05:00June 7th, 2022|Feature Story, Industry News|

About the Author:

Art Benavidez (Construction News Reporter, Central Texas) is a seasoned journalist with over 15-years of experience in writing breaking news and in-depth features at the local level. He honed his research and reporting skills in newspapers and magazines throughout South and West Texas along with expertise in crafting digital content as Managing Editor of New Image Marketing Research Corporation. Benevidez is a Texas native and graduate of UT-RGV.

Leave A Comment