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Pearlstone Partners Breaks Ground on The Belvedere in Downtown Austin

In a significant milestone for urban development, Pearlstone Partners has officially commenced construction on The Belvedere, a luxurious condominium complex located in west downtown Austin. This ambitious project has secured a substantial $154.5 million loan from Benefit Street Partners, marking a pivotal moment for both the developers and the city. Scheduled for completion in August 2027, The Belvedere is poised to redefine luxury living by offering 158 residences along with upscale amenities and direct access to the renowned Butler Hike-and-Bike Trail.

Celebrating a New Beginning

The groundbreaking ceremony took place on March 25, 2025, at the site located at 300 Pressler Street. This event symbolized the dawn of a new era for downtown Austin, where The Belvedere will emerge as a benchmark of fine living. Covering 299,373 square feet, the project will comprise meticulously designed residential and commercial spaces aimed at elevating the living standards within the city. Bill Knauss, CEO of Pearlstone Partners, expressed his excitement: "We are thrilled to bring The Belvedere to life, a project that blends thoughtful design, luxury and connectivity to Austin's vibrant urban landscape."

Architectural firm KTGY, paired with interior design from Kim Lewis Designs, is behind the vision for the complex, which will feature a three-acre urban green space that enhances the natural scenery in downtown Austin. Ray Tse, Principal at KTGY, stated, "The Belvedere applies thoughtful design and architecture to create spaces that add value to the surrounding city, offering a unique level of luxury and activation to West Downtown Austin."

Financial Backing to Realize a Vision

The approval of the $154.5 million construction loan from Benefit Street Partners is a vital component of the project’s launch. Chris Zaiontz, President of Pearlstone, commented: "Partnering with Benefit Street Partners has been an essential part of making The Belvedere a reality. Their support and confidence in our vision have allowed us to move forward with this exciting project."

Additionally, Pearlstone is committing $1.5 million towards enhancing the park on the lawn of The Belvedere, which will include upgraded sidewalks, new bike paths, and improved public access facilities. This investment reflects a broader aim to promote outdoor activities and connectivity within the local community. David Elgart, Managing Director at Benefit Street, expressed enthusiasm for the partnership and its impact on the dynamic growth of Austin: "This project is the result of a strong collaborative effort, and we appreciate the vision and expertise at Pearlstone Partners."

Luxury Living Awaits

The residences within The Belvedere will range from one to three bedrooms, offering a lavish suite of amenities that include:

• - A lap pool and resort-style pool
• - An on-site restaurant
• - Co-working spaces
• - 24-hour concierge services
• - Fitness studios
• - A pet lounge and grooming station
• - A theater room
• - A residential lounge
• - Direct access to the Hike-and-Bike Trail

These features are designed to cater to the needs of modern lifestyles, providing an effortlessly luxurious experience for residents.

Sales Center Opening Soon

In an exciting update, the sales gallery for The Belvedere is set to have its grand opening on May 15th at 504 Oakland Avenue, Austin, TX 78703. Prospective buyers will have the opportunity to explore various floor plans and pricing, with options ranging from $800,000 to $3 million. Reservations will begin in April, managed by The Portfolio Edition Real Estate Group in partnership with Christie's International. This presents a unique chance for those interested in luxury urban living to secure their place in this prestigious development.

For additional details, visit thebelvedereresidences.com.

About The Belvedere

The Belvedere is envisioned as a three-building condominium project in downtown Austin, capitalizing on a well-established market with proven business dynamics. The complex promises to deliver a blend of residential and commercial space perfectly suited for contemporary urban living, with significant green areas directly linking to Austin's vibrant outdoor trail system.

About Pearlstone Partners

Based in Austin, Pearlstone Partners is a full-service real estate development firm recognized for its innovative and design-driven approach. With over $700 million in developed real estate and an impressive portfolio exceeding $900 million, Pearlstone is committed to investing in high-quality projects that promote economic growth in Central Texas. Their expertise spans across various development stages, ensuring successful project execution from inception to final completion. For more information, visit pearlstonepartners.com.