Time to get cooking.
MML Hospitality and Riverside Resources have landed a $193 million construction loan for Sixth&Blanco, an ultra-luxury condo project in Austin’s Clarksville neighborhood. The fresh funding comes from Arkansas-based Arvest Bank, with participation from Prosperity Bank and Southside Bank. Construction started Thursday, with plans to deliver the first units by the second quarter of 2027.
The five-floor, mass-timber development was designed by Swiss architect Herzog & de Meuron. It will feature 10 homes across the top two floors. It will also include a 57-key hotel and 50,000 square feet of retail and restaurant spaces.
The loan is one of the largest in recent memory for Austin.
“The timing is unique in terms of what the market has been doing,” MML co-founder Larry McGuire said. “We’re really pleased that these banks saw the vision.”
The condos start at $10 million and are listed by Kumara Wilcoxon of Kuper Sotheby’s International Realty. Five buyers have placed $500,000 reservations on homes so far, McGuire said. They average 4,600 square feet and will add to a small but growing number of high-end condominiums attracting a new level of buyer to Austin.
Two MML-owned businesses, cafe and bakery Swedish Hill and clothing shop ByGeorge, have signed leases for the retail space. Some of the firm’s other restaurants sit short walks away from the 1.6-acre project site at the corner of Sixth Street and Blanco Street, including Howards Bar & Club, Rosie’s Wine Bar and Clark’s Oyster Bar.
Sixth&Blanco is MML’s first residential development. The partnership with Riverside, which is behind other Austin projects like 300 Colorado and Centro, has helped balance that out, according to MML co-founder Larry McGuire.
“We get to do the things that we’re good at, and our strengths and weaknesses fit together in a nice way,” McGuire said. Lambert McGuire, his architectural design firm with hotelier Liz Lambert, has worked with Herzog & de Meuron to customize interiors with the five units already under reservation. Meanwhile, Riverside has handled much of the municipal work and permitting.
Still, McGuire, who made a name for himself as a restaurateur, can now add another title to his resume.
“I can reluctantly say I’m a developer,” he said with a grin.
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Look inside Riverside, McGuire’s ultra-luxe Sixth&Blanco