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With Goldman Sachs on board, downtown high-rise set to break ground

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Austin Proper is soon to break ground on former water treatment facility.

The 33-story Austin Proper Hotel & Residences is expected to break ground in the next few weeks after Goldman Sachs & Co. brought its hefty Wall Street weight to the table in support of the project on the site of the former Green Water Treatment Plant.

The Kor Group is close to moving dirt, the Austin American-Statesman reports. The merchant banking division of Goldman Sachs is now a capital partner, according to an Aug. 2 announcement. The Austin Proper Hotel & Residences are planned to rise 32 stories on the site of the former Green Water Treatment Plant.

Austin Proper Hotel & Residences will include about 100 luxury condos — which went on sale recently— and about 240 hotel rooms, which are expected to come online in 2018. It is part of a larger redevelopment of the former water treatment plant near Cesar Chavez and San Antonio streets.

Click here to read the full article: With Goldman Sachs on board, downtown high-rise set to break ground Austin Business Journal (8-5-2016)

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