Austin Proper Hotel & Residences, a premier luxury lifestyle hotel and residential offering in Austin, Texas, broke ground. The lifestyle hotel held a celebration Friday, Sept. 9, kicking off construction on the tower.

Project developer The Kor Group, members of the City of Austin Economic Development Department, Trammell Crow and others attended the ceremony. The Merchant Banking Division of Goldman, Sachs & Co. was announced as the capital partner for the hotel, said to open in 2018.

The downtown Austin Proper Hotel & Residences project will be managed and branded by lifestyle hotel operator, Proper Hospitality. The 33-story, 500,000-square-foot project will feature 244 hotel rooms with interior design by international style icon Kelly Wearstler; dining options by McGuire Moorman Hospitality; and more than 12,000 square feet of indoor and outdoor meeting and event space.

Above the hotel are 99 exclusive for-sale condominium residences and penthouses, priced from $600,000–3,000,000 and $3,400,000, respectively. The spaces are quickly pre-selling.

“The luxury hotel and residential offering completes our vision of making Greenwater the ultimate lifestyle work/live/stay/play development in all of Austin,” said Adam Nims, principal, Trammel Crow Company.

The hotel project is part of the redevelopment of the former Thomas C. Green Water Treatment Plant, supporting community efforts to make downtown more vibrant, walkable and livable.

The property amenities include full hotel services for residents and guests; two roof-top decks with pools; a spa and fitness center; lobby restaurant and lounge; a coffee shop; and an elevated poolside restaurant. Residential and condominium owners receive exclusive benefits and privileges like priority dining, spa reservations, preferred pricing for hotel services and accommodations for family and friends, four stories of underground parking and extended benefits at all Proper hotels.