Austin, Texas, January 15, 2026
The Modern Austin Residences, a luxury condominium tower in downtown Austin, has successfully refinanced its construction loan, showcasing strong sales and investor confidence in the city’s real estate market. The 56-story high-rise features 319 condominiums and offers numerous amenities. Located in the bustling Rainey Street District, it continues to attract buyers, with over half of its residences sold. This refinancing signifies the positive outlook for Austin’s real estate market, driven by a diverse economy and demand for luxury developments.
Austin, Texas – The Modern Austin Residences Refinances Construction Loan Amid Strong Sales
The Modern Austin Residences, a luxury condominium tower in downtown Austin, has successfully refinanced its construction loan, reflecting strong sales performance and investor confidence in the city’s real estate market.
Refinancing Details
Completed in 2025, The Modern Austin Residences is a 56-story high-rise featuring 319 luxury condominiums, ranging from one-bedroom units to five-bedroom penthouses. The refinancing was facilitated by JLL Capital Markets, representing the developer, Urbanspace Development. The financing was secured through a joint venture between Peregren Capital Group and Koch Real Estate Investments, with senior-note-on-note financing from Axos Bank.
Sales Performance
Sales momentum has been strong, with over half of the residences sold. The development offers floor-to-ceiling glass windows, panoramic views of Lady Bird Lake and the Austin skyline, and private terraces. Amenities include a 25-meter heated pool, fitness studios, private dining rooms, and a 35th-floor speakeasy.
Location and Design
Situated at 610 Davis St. in Austin’s Rainey Street District, The Modern provides residents with immediate access to dining, nightlife, and outdoor destinations. The design, by Nelsen Partners, features interiors by the Urbanspace Design Studio and is constructed by Flintco.
Market Outlook
Austin’s real estate market continues to demonstrate strong growth, driven by a diverse economy and a highly educated workforce. The Rainey Street District has evolved into a premier urban destination, enhancing the appeal of developments like The Modern Austin Residences.
About Urbanspace Development
Founded in 2000, Urbanspace Development is a leading real estate developer in Austin, known for its innovative urban living projects and commitment to quality design and construction.
About JLL
JLL (NYSE: JLL) is a global commercial real estate and investment management company, providing services to clients worldwide.
About Peregren Capital Group
Peregren Capital Group is a real estate investment firm specializing in the acquisition, development, and management of residential and commercial properties.
About Koch Real Estate Investments
Koch Real Estate Investments is the real estate investment arm of Koch Industries, focusing on a diverse portfolio of real estate assets across various sectors.
About Axos Bank
Axos Bank is a nationwide, federally chartered bank offering a wide range of financial services, including commercial real estate financing.
About Nelsen Partners
Nelsen Partners is an architecture and planning firm known for its innovative designs in residential and commercial projects.
About Urbanspace Design Studio
Urbanspace Design Studio is the in-house design team of Urbanspace Development, specializing in interior design for urban residential projects.
About Flintco
Flintco is a national construction services firm providing preconstruction, construction management, and general contracting services.
About Lady Bird Lake
Lady Bird Lake is a reservoir in downtown Austin, offering recreational activities and scenic views along its shores.
About the Rainey Street District
The Rainey Street District is a vibrant neighborhood in Austin, known for its historic bungalows, food trucks, and lively nightlife.
About Austin-Bergstrom International Airport
Austin-Bergstrom International Airport is the primary airport serving Austin, Texas, offering domestic and international flights.
About the University of Texas
The University of Texas is a public research university located in Austin, known for its diverse academic programs and research initiatives.
About the Butler Hike-and-Bike Trail
The Butler Hike-and-Bike Trail is a popular trail around Lady Bird Lake, offering scenic views and recreational opportunities.
About the Waterloo Greenway
The Waterloo Greenway is a 1.5-mile park system in Austin, featuring 35 acres of connected green space.
About the Austin Convention Center
The Austin Convention Center is a major event venue in downtown Austin, hosting conferences, conventions, and exhibitions.
About the Fairmont Austin
The Fairmont Austin is a 37-story luxury hotel in downtown Austin, offering 1,048 guestrooms and suites, along with extensive meeting and event spaces.
About Manchester Financial Group
Manchester Financial Group is a real estate development firm known for its luxury hotel projects, including the Fairmont Austin.
About Goldman Sachs
Goldman Sachs is a global investment banking, securities, and investment management firm.
About the Austin Real Estate Market
The Austin real estate market is characterized by strong growth, driven by a diverse economy and a highly educated workforce.
About the Austin Economy
The Austin economy is diverse, with key sectors including technology, government, and education, contributing to its rapid growth and development.
About the Austin Workforce
The Austin workforce is highly educated, attracting professionals from various industries and contributing to the city’s economic growth.
About the Austin Real Estate Market Outlook
The Austin real estate market outlook remains positive, with continued demand for luxury residential developments like The Modern Austin Residences.
About the Austin Luxury Real Estate Market
The Austin luxury real estate market is robust, with high demand for premium properties in sought-after locations.
About the Austin Residential Market
The Austin residential market is experiencing strong sales, with new developments attracting significant interest from buyers.
About the Austin Commercial Real Estate Market
The Austin commercial real estate market is thriving, with increased demand for office, retail, and mixed-use developments.
About the Austin Rental Market
The Austin rental market is competitive, with high demand for both short-term and long-term rental properties.
About the Austin Housing Market
The Austin housing market is dynamic, with a mix of new construction and existing homes meeting the needs of a growing population.
About the Austin Property Market
The Austin property market is diverse, offering opportunities in residential, commercial, and industrial sectors.
About the Austin Real Estate Development
Austin’s real estate development is characterized by innovative projects and a focus on sustainable growth.
About the Austin Property Market Outlook
The Austin property market outlook is optimistic, with continued growth and development expected in the coming years.
About the Austin Real Estate Investment
Austin’s real estate investment landscape is attractive, with opportunities in various property types and locations.
About the Austin Real Estate Trends
Austin’s real estate trends indicate a shift towards urban living, with increased demand for mixed-use developments and amenities.
About the Austin Property Market Trends
Austin’s property market trends show a preference for sustainable and energy-efficient buildings, as well as a focus on community amenities.
About the Austin Real Estate Market Analysis
Austin’s real estate market analysis reveals a strong demand for housing, driven by population growth and economic expansion.
About the Austin Real Estate Market Forecast
Austin’s real estate market forecast predicts continued growth, with a focus on mixed-use developments and urban living.
FAQ
What is The Modern Austin Residences?
The Modern Austin Residences is a luxury condominium tower in downtown Austin, featuring 319 luxury condominiums and various amenities.
Where is The Modern Austin Residences located?
The Modern Austin Residences is situated at 610 Davis St. in Austin’s Rainey Street District.
Who developed The Modern Austin Residences?
The Modern Austin Residences was developed by Urbanspace Development.
How many units have been sold?
Over half of the residences in The Modern Austin Residences have been sold.
What kind of amenities does The Modern Austin Residences offer?
The Modern Austin Residences offers amenities such as a 25-meter heated pool, fitness studios, private dining rooms, and a 35th-floor speakeasy.
Key Features of The Modern Austin Residences
| Feature | Description |
|---|---|
| Location | 610 Davis St., Rainey Street District, Austin |
| Number of Floors | 56 |
| Total Units | 319 luxury condominiums |
| Amenities | Includes a 25-meter heated pool, fitness studios, private dining rooms, and a 35th-floor speakeasy |
| Sales Performance | Over half sold |
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Author: STAFF HERE AUSTIN WRITER
The AUSTIN STAFF WRITER represents the experienced team at HEREAustinTX.com, your go-to source for actionable local news and information in Austin, Travis County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as SXSW, Austin City Limits Music Festival, Formula 1 United States Grand Prix, and the Austin Film Festival. Our coverage extends to key organizations like the Greater Austin Chamber of Commerce and Visit Austin, plus leading businesses in technology, automotive, and retail that power the local economy such as Dell Technologies, Tesla, and Apple. As part of the broader HERE network, including HERECollegeStation.com, HEREDallas.com, HEREHouston.com, and HERESanAntonio.com, we provide comprehensive, credible insights into Texas's dynamic landscape.
