Hotel/condo project ready to rise in downtown Austin
By Shonda Novak - American-Statesman Staff
Posted: 4:47 p.m. Thursday, Aug. 4, 2016
http://www.mystatesman.com/news/busi...ef=cbTopWidget
Financing is now in place that paves the way for a 33-story hotel and condominium project to break ground in downtown Austin, its developers say.
The Kor Group said it has brought on the Merchant Banking Division of Goldman, Sachs & Co. as a capital partner for Austin Proper Hotel & Residences, which will be part of the transformation taking shape on land that formerly housed the Thomas C. Green Water Treatment Plant.
Austin Proper is expected to break ground in the next few weeks, said Matt Green, Austin managing partner for The Kor Group. Located at West Second and Nueces streets, the 500,000-square-foot Austin Proper development will have 99 luxury condominiums atop a 244-room hotel. The hotel is expected to open in 2018 and will be managed and branded by Proper Hospitality.