Austin Is Getting Another Branded Condo Complex

Pearlstone Partners is slapping a brand name on its 146-unit luxury condo project just west of Downtown Austin, bringing a slew of new high-ticket amenities to the development.

The Austin-based firm announced this week that Highgate-owned Viceroy Residences signed onto its $235 million complex at 300 Pressler Street, which broke ground in March 2025. The project marks Austin’s first branded condo complex unattached to a hotel.

Viceroy Residences Austin, previously called the Belvedere, sits on a 3-acre tract of land between Downtown Austin and Lady Bird Lake. Viceroy brings a wellness-focused slate of amenities to the property, including a 75-foot pool, poolside lounge and bar, fitness center, wellness and recovery spa with cold plunges, infrared and red light therapy and saunas.

The first phase of construction, which includes two of the planned three six-story buildings, is expected to be completed by the fourth quarter of 2027. There’s no timeline yet for phase two, which will add 40-50 additional units.

Bringing in a hospitality brand to manage the luxury condo project is an effort to meet a specific buyer demographic, Bill Knauss, CEO of Pearlstone, said. The firm met with a few different hospitality groups that specialize in branded residences, ultimately choosing Viceroy, he said. Knauss declined to share the names of other hospitality firms that Pearlstone considered for the project.

Since announcing the condo complex, Pearlstone has dropped the total number of expected units from 247 to the current 146 in an effort to offer larger spaces and “true penthouses” to buyers, Knauss said.

Pearlstone is targeting buyers who want to downsize from 5,000- to 7,000-square-foot homes in West Austin to three- or four-bedroom penthouses in a walkable area adjacent to downtown, he explained.

Condos will go on sale in September for Viceroy Residences Austin at a new sales gallery near the property, Knauss said, and prospective buyers can register interest on Pearlstone’s website. The one- to four-bedroom units, with square footage between 760 and 4,200, range in price from $800,000 to $6 million. Christie’s International Real Estate is managing sales.

Pearlstone secured a $154.5 million construction loan through New York-based Benefit Street Partners last April to fund the project. Knauss said the firm doesn’t expect to require additional financing.

Viceroy’s first Texas property will join its slate of luxury hotels and residences around the world, including Miami, Colorado, Idaho, Portugal, Mexico and Saint Lucia.

Pearlstone’s portfolio includes $800 million in completed projects in the Austin area, including a 200-unit condo complex in Mueller, a 212,000-square-foot tower on Rainey Street, a 182-unit condo complex on South Lamar, and a 41-story downtown high-rise. The firm has an additional $500 million in projects currently under development.