AUSTIN (KXAN) — Natiivo Austin, an Airbnb-linked property, is coming to the Rainey Street district in 2022. The new concept will combine part hotel, part condominiums and part apartments at 48 East, a 33-story high rise.
Natiivo Austin is a new hotel chain created by Miami, Florida-based NGD Homesharing in a partnership with California-based Airbnb, the Austin Business Journal reports.
48 East is being developed by Austin-based Pearlstone Partners, which had originally proposed building an apartment tower at the site, but switched later to for-sale condos, according to ABJ’s Erin Edgemon.
Similar to a condominium development, Natiivo Austin’s 249 units will be available for purchase. However, the buyers won’t be able to live there full-time. Instead they are encouraged to rent out their units on Airbnb when they aren’t staying there — NGD Homesharing frames the rental potential as a built-in amenity— the ABJ reports.
Natiivo Austin units are available for purchase online and will range in price from the $300,000s to $1.2 million.