Paseo — Rainey Street, Austin

Paseo topped out at 48 stories on Austin’s Rainey Street and opened in late 2025, adding 557 apartments to one of the densest new-development corridors in the city. The tower rises 567 feet, tall enough to reset the skyline at the eastern edge of downtown.

Project Scope
LV Collective developed the roughly 835,000-square-foot tower, with JE Dunn Construction as general contractor and Pappageorge Haymes Partners as architect. Units run from studios to three-bedrooms. The building stacks its amenities vertically: a rooftop pool and sky lounge on the 48th floor, coworking and conference space across floors 12 through 14, plus a pool, spa, and fitness center lower down. Ground-floor bars and dining tie it into the Rainey Street entertainment district it sits inside.

Why It Matters
Austin added apartments faster than almost any U.S. metro over the past few years, and Rainey Street became the test bed for high-rise density downtown. Paseo is one of the largest of that wave. The flood of new supply has actually pushed Austin rents down, a rare outcome that housing economists point to as evidence that building enough units really does move prices. Paseo is a piece of that supply story, and its lease-up will show whether demand is keeping pace with the towers going up around it.

Project Team & Details