LV Collective developed Paseo, a 48-story multifamily tower with a hotel component, in the Rainey Street district known for its bar scene in downtown Austin, Texas.
Paseo has helped expand Rainey Street’s economic base beyond nightlife with the mixed-use skyscraper's hospitality and wellness uses. The building includes a two-story fitness center as well as yoga and pilates studios with instructor-led classes, all included in the rent for residents.
Paseo also includes the first Texas location for Roost, a short- and extended-stay hotel, with a 59-key boutique hotel component on levels 15 through 19. The tower's rooftop pool and hot tub offer views of Lady Bird Lake and the Austin skyline, while residents can get a 10% discount at the Daydreamer Cafe, an eatery and wine bar in the lobby.
Once Paseo opened last year, the project was 53% leased in less than 90 days. Paseo won a 2025 CoStar Impact Award for Multifamily Development of the Year for Austin, as judged by real estate professionals familiar with the market.
About the project: Paseo broke ground at the end of 2022, topped out in August 2024 and opened for its first residents in November. The developer worked with the city of Austin for Paseo to qualify for the city's Downtown Density Bonus Program for its energy efficiency and multiuse ground-floor space components. Level 12 includes a resort-style pool deck with cabanas and poolside food and beverage service from Amaya, a Mediterranean restaurant.
What the judges said: Paseo "transformed a downtown corridor, set new experiential and wellness-driven residential benchmarks, integrated hospitality, overcame financing and lease-up challenges, and demonstrated measurable market influence," said Kelly Hewitt Miller, business development manager for the central U.S. for Allsteel.
They made it happen: The development team with LV Collective included David Kanne, Kendall Guinn, Alex Perkins, Chelsea Kloss, Payton DeMarco and Megan Mills. Gregory Klosowski with Pappageorge Haymes was the architect. Jarrod Byers with Greystar is the property manager. AvroKO is the interior designer. Kat Hallisey with Michael Hsu Office of Architecture was part of the design team. Todd Mattocks with JE Dunn Construction was the general contractor.