Texas: Natiivo Austin, an Airbnb-powered concept property, is set to open in the Rainey Street district of Austin in late 2021.
The rental concept launching in Austin will combine condo ownership and short-term renting with the city’s first high-rise home-sharing property.
Those purchasing one of the 249 hotel-licensed condos at the site will be asked if they intend to list their unit independently on Airbnb or through a newly-created brand under Natiivo management, called NGD Homesharing.
The planned development at 48 East Avenue in Rainey Street will feature 33 floors of fully-amenitised and furnished studios, as well as one- and two- bedroom specific units. However, unit owners will be restricted from using the property as a primary residence or staying there for more than 30 days at a time, due to existing hotel licences in the city.
NGD Homesharing CEO and founder, Harvey Hernandez, told KTXS: “Natiivo fills a gap in the hospitality landscape by combining an elevated, professionally-hosted experience, great design and cutting-edge technology with the service, security and consistency of a great hotel.”
In addition to rental units, Natiivo Austin will include co-working spaces, a cafe lounge, a spa and fitness centre, as well as a rooftop pool deck with private cabanas. Units are expected to cost between $300,000 and $1.2 million.
Hernandez added: “It’s basically a hotel that offers what we call ‘the new way’ of owning real estate -instead of being rent-to-own, the model is own-to-rent. The property is ideal for anyone who wants a fully furnished, professionally managed short-term rental in Austin.”
The project is being jointly managed by Newgard Development Group and Pearlstone Partners, with architecture being supplied by STG Design and interiors by New York-based INC Architecture and Design. Natiivo Austin’s opening is projected to take place in September 2021.
A Natiivo project is also being carried out in Miami, where 604 units are being constructed over 48 stories. Nearly 200 of those units will be dedicated hotel-licensed homes, with an expected opening scheduled for Spring 2022.
For more information, visit the Natiivo Austin website here.