JE Dunn Construction hosted a topping out celebration on Friday, August 23, for Paseo – the new 48-story multifamily development from LV Collective that sits on Rainey Street in the heart of Downtown Austin.
“Paseo required countless hours of hard work from JE Dunn, LV Collective, and numerous Trade Partners on the project to reach this milestone. I want to thank everyone who made it possible, but specifically our JE Dunn Self Perform Concrete Team,” said Todd Mattocks, senior project manager at JE Dunn. “It is exciting to witness and contribute to the growth of the city I call home, and I look forward to the completion of the project in 2025.”
Financed by a development partnership between LV Collective, ELV Associates and JE Dunn Capital Partners, the roughly 835,000 square foot, 557-unit tower is scheduled to open its doors in late 2025. Residents will be able to choose from studios to 1-, 2-, and 3-bedroom apartments, each with expansive views of the city, which include 28 units designated as affordable housing. The tower will also include a 9-level, 412-car above ground parking garage.
“When completed, Paseo will be one of the most desirable places to live in Austin,” said Michael Walden, real estate investment director with JE Dunn Capital Partners. “JE Dunn Capital Partners is proud to partner with LV Collective on this exceptional project that has been carefully curated with unique amenities and integration with the charm and energy of the Rainey neighborhood.”
Designed by PappaGeorge Haymes Partners, Paseo aims to add to Rainey Street without detracting from the bungalow, local bar, and pedestrian-friendly charm that’s made the area so popular with locals and visitors alike.
The development’s intentionally designed spaces and amenities include a best-in-class pool, spa, and fitness center with yoga studios and an on-call property concierge. Residents also will enjoy a private rooftop pool and sky lounge on floor 48, and amenity decks and coworking spaces with private work pods and collaborative conference rooms stretching from floors 12-14.
“It’s so rewarding to see Paseo come to life,” said David Kanne, LV Collective CEO. “We’re grateful to be working alongside first-class partners and excited for residents to experience all that Paseo has to offer.”
In addition to the bungalows that have been preserved on site, the tower’s ground and second-floor retail space will include several food and beverage concepts, including Fleet Coffee, which will serve coffee during the day and cocktails at night. The retail space facing Rainey Street will feature a special elevator lobby to take the public up to the 12th floor pool deck and bar. This will be Rainey Street’s first publicly accessible foray into the sky.
As the project enters its final year of construction, JE Dunn and the rest of the project team will be focused on the completion of interior unit finishes, the exterior pool decks on the 12th and 48th floors, rooftop equipment and roofing, exterior glass and glazing, and exterior garage finishes.
