Downtown Austin is getting a new splashy neighbor, and it is showing up with hotel-level swagger. Viceroy Hotels & Residences is making its Texas debut as the hospitality flag on a new condominium project from Pearlstone Partners, rebranding the previously announced Belvedere as Viceroy Residences Austin.
The two-building development is rising along Pressler Street between downtown and Lady Bird Lake, where construction has already been underway for several months. Pearlstone expects completion by the end of 2027, with sales slated to kick off in August 2026. The pitch: fresh, high-end for-sale inventory in a downtown condo market that has not seen much new product lately.
Deal details, unit mix and pricing
According to a press release via PR Newswire, Viceroy Residences Austin will feature 146 residences split across two buildings, wrapped around an amenities package built to feel like a resort more than a typical condo.
The plan calls for a resort-style pool anchored by a 75-foot lap lane, a wellness spa, fitness facilities and dedicated owner lounge spaces. The release states that residences are expected to start below $1 million, while signature penthouses are projected to top $6 million. Christie's International Real Estate @properties Lone Star is named as the project's sales representative.
Pearlstone CEO Bill Knauss said in the announcement that the team has been eyeing this slice of Pressler for some time, calling it “one of the most compelling opportunities in Austin” from the outset.
Where it sits and how buyers can see it
The official project website lists the addresses as 300 & 301 Pressler Street, placing the buildings in a pocket between the central business district and the hike-and-bike trails along Lady Bird Lake. A residential sales gallery is scheduled to open in September at 504 Oakland Avenue, according to Viceroy Residences Austin.
The same site notes an anticipated Fall 2027 delivery, aligning with Pearlstone's broader 2027 pipeline, and provides a sales phone number and inquiry email for prospective buyers. That public-facing timeline arrives as the developer points out that site work has already been progressing for several months, putting the project on a relatively long runway before contracts start flying in 2026.
What it means for downtown's condo pipeline
The Viceroy-branded play is landing in a downtown condo market that has caught its breath after a building boom. Reporting by the Austin Business Journal and national coverage such as The Real Deal describe a recent surge of luxury condo deliveries downtown, followed by a clear slowdown in new for-sale projects and some lingering unsold high-end inventory.
That backdrop helps explain why Pearlstone is leaning into a fully branded, hospitality-forward product. Instead of being just another glass tower, Viceroy Residences Austin is pitched as a lifestyle play: hotel-style services and programming layered onto traditional condo ownership, arriving at a moment when developers are warier about flooding the market with more of the same.
Who's building and who will run it
Pearlstone Partners, an Austin-based firm behind a string of recent local projects, is leading the development and lists Viceroy Residences Austin in its 2027 delivery slate. Viceroy, known for hotels and branded residences in destinations such as Miami, Los Cabos and Snowmass, will handle hospitality programming and on-site services.
The collaboration marks Pearlstone's push deeper into hospitality-driven ownership after earlier experiments with hybrid models around town. The Viceroy name brings a recognizable luxury flag into the mix at a moment when both developers and would-be buyers are scrutinizing downtown supply and timing.
How the market responds will start to come into focus when sales launch in August 2026, which will effectively serve as a live stress test of demand for high-end, hospitality-led ownership in Austin's core. For more information or to register interest, prospective buyers can head to the project website at Viceroy Residences Austin and connect directly with the sales team listed there.
