A joint venture between Lincoln Property Company (LPC) and Kairoi Residential have started work on Waterline, a 74-story mixed-use high-rise. When completed in 2026 it will be the City of Austin’s and the State of Texas’s tallest tower. It’s located at 98 Red River St.

Canada’s Public Sector Pension Investment Board is the main equity contributor to the project. Waterline will include 352 apartment homes, 700,000 square feet of office space and the 251-room 1 Hotel Austin. LPC’s Seth Johnston says the project will add to Austin’s appeal, “Downtown Austin offers one of the most dynamic markets and skylines in the nation, and we’re excited to help drive its ongoing transformation.”

The ground floor will feature 24,000 square feet of retail and restaurant space. 1 Hotel Austin will occupy the next 13 floors. The office portion will occupy the following 27 stories. Residential units will fill the top 33 stories.

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