Austin to Build 30-Story Apartment Tower by 2028
A new high-rise project at 2305 Rio Grande Street will bring 300 additional residential units to the city.
Updated on Oct. 27, 2026 in Commercial
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Developers are set to break ground on a $97 million apartment tower in Austin this coming February. The 30-story project is slated for completion in July 2028.
Why it matters
The development responds to housing demand near the University of Texas, which enrolls over 55,000 students and does not require freshmen to live on campus. This project aligns with city initiatives to increase density and update property management regulations.
The apartment project is estimated to cost $97 million and will occupy 30 stories at 2305 to 2309 Rio Grande Street. The site currently holds two office buildings slated for demolition.
The players
University of Texas
This major public research university serves over 55,000 students and is a primary driver of the West Campus housing market.
University Realty
This real estate entity is linked to the land transfer for the development site at 2305 Rio Grande Street.
The details
The land was transferred earlier this year to an entity associated with University Realty to prepare for the tower. The project will replace two existing office buildings currently standing at the 2305 to 2309 Rio Grande Street location.
Timeline
Construction work is scheduled to begin in February 2027.
Project completion is expected by July 2028.
Culture Shift
The project follows the city of Austin's strategic plan for denser developments by prioritizing high-rise residential growth in the West Campus area. This shift toward vertical expansion marks a transition away from traditional low-density neighborhood housing in the region.
Residents and students in the West Campus area should anticipate construction activity and the demolition of existing office buildings starting in early 2027. The addition of 300 units may eventually influence the local housing supply for those attending the university.
The takeaway
Large-scale residential developments are increasingly targeting the student housing market in Austin to accommodate high university enrollment. Prospective renters should monitor ongoing zoning changes that may impact future housing availability in the West Campus neighborhood.
What happens next
Construction is set to begin in February 2027, followed by an expected project completion date in July 2028.
Further reading
Learn more about the latest projects in the Austin Commercial section.
Source note: This article includes information reported by The Real Deal New York.
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