32-story 5th & Brazos tower set to break ground 4Q 2018

​​​​AUSTIN – Magellan Development Group and contractor Ryan Companies will break ground on the 32-story hotel and residential tower at the northeast corner of Fifth St. and Brazos St. in fourth quarter 2018.

Construction is expected to cost about $170 million.

The first two floors will include retail space and a 13,000-sf restaurant.

Floors three and four will feature shared amenities.

There will be roughly 400 hotel rooms split between two distinct concepts on floors five through 14.

Hotel A, a luxury boutique hotel under the Thompson Hotels brand, will have 211 rooms with rates of more than $400 per night.

Hotel B, called "Tommie," will have 190 rooms with a more micro-unit experience targeted toward a younger demographic.

Flex floors on levels 15 and 16 with 49 rooms will be intended for either short- or long-term stays.

The hotels will be topped by 274 apartments on floors 17 through 31.