Waterloo Tower, the tallest new student-housing tower is now open. The building was delivered ahead of schedule and is already fully leased, according to a press release from Austin multifamily and student housing developer LV Collective.
The 30-story high-rise is at 2400 Seton Avenue in the West Campus neighborhood a few blocks from the University of Texas at Austin. It has a total area of 229,728 square feet (21,342 square meters) 241 units, and 796 beds. It’s also 100 percent preleased, and students are already moving in.
Already in one of the densest neighborhoods in Central Housing, Waterloo Tower The first of its height in West Campus, the 320-foot (97.5-meter) Waterloo Tower was the beneficiary of a 2019 density bonus amendment made to the University Neighborhood Overlay — the city-sanctioned plan for the area.
Density bonuses allow developers to build more units than are allowed by a site’s base zoning in exchange for setting aside units for income-restricted affordable housing as it’s defined by the city’s SMART Housing programs.
For more on this story, go to Urbanize Austin.