500K-SF Austin Proper Hotel & Residences news

​AUSTIN – Goldman, Sachs & Co. has signed on as a capital partner in the development of Austin Proper Hotel & Residences. 

The Kor Group’s 33-story, 500,000-sf mixed-use development is set to break ground this quarter in downtown Austin. 

At full buildout, the development will house 244 hotel rooms, more than 12,000 sf of indoor and outdoor meeting space and a retail component. 

The hotel, which will be managed and branded by lifestyle hotel operator Proper Hospitality, is slated to open in 2018. 

Atop the hotel will be 99 for-sale condominiums and penthouses currently priced at $600,000 to $3 million for the condos and $3.4 million to $8 million for the penthouses. 

The condos will offer one- to three-bedroom floor plans ranging in size from 921 to 2,608 sf, while the one- and two-story penthouses will range from 3,425 to 6,789 sf. ​

Owners at Austin Proper will also have access to four stories of below-grade parking. ​​