Condos bound for prime waterfront location by hike and bike trail, Lance Armstrong Bikeway

Construction is due to start this spring on a $250 million condominium project just west of downtown Austin.

The developer, Pearlstone Partners, has named the project the Belvedere. Currently, ground preparation and infrastructure work is taking place.

Construction is due to start this spring on the Belvedere, which will have 247 luxury condominiums in three buildings planned for West Third and Pressler streets.

Located at West Third and Pressler streets, the development will have 247 luxury condominiums in three buildings.

Residents will have views of Lady Bird Lake. The developer soon will start work on a new landscaped path connecting to the nearby Lance Armstrong Bikeway and the Ann and Roy Butler Hike and Bike Trail along the lake.

The developer, Pearlstone Partners, has already started ground preparation work for the Belvedere condo project and will soon build a direct path to the nearby Lance Armstrong Bikeway and the Ann and Roy Butler Hike and Bike Trail along Lady Bird Lake.

The Belvedere "marks a shift toward west downtown development, and with 247 condominiums, we believe this to be the largest downtown residential development to break ground in 2024," said Chris Zaiontz, senior vice president and principal at Pearlstone Partners. "The Belvedere will be one of our most luxurious residential properties to date."

Pearlstone is continuing to seek partners for the Belvedere. To protect privacy, Pearlstone officials say they do not disclose their equity partners, which include private investors or funds, nor does Pearlstone disclose amounts the company has raised.

The Belvedere will have one-, two- and three-bedroom condos ranging in size from 717 square feet to 2,336 square feet, and priced from the upper $700,000s to more than $2 million.

The Belvedere will have one-, two- and three-bedroom units ranging in size from 717 square feet to 2,336 square feet, and priced from the upper $700,000s to more than $2 million.

Among its amenities, the Belvedere will have a restaurant, bar, a parking garage, a 24-hour concierge, a co-working space, conference rooms, a media room and a pet lounge with grooming stations.

Pearlstone has multiple projects built, planned or under construction in the Austin market.

Vesper, a 41-story development in the Rainey Street District downtown, has 284 luxury condominiums, and the first residents are expected to start moving into their units in April or May. Prices range from $565,000 to more than $2 million.

This article originally appeared on Austin American-Statesman: Condos coming to prime waterfront location west of downtown Austin