AUSTIN, Texas — Texas has a new skyscraping champion — and this time, it’s not in Houston.

The 74-story Waterline tower, developed by Lincoln Property Company and Kairoi Residential, officially topped out last Friday in downtown Austin, becoming the tallest building in Texas at a striking 1,025 feet. That’s 23 feet taller than Houston’s JPMorgan Chase Tower, which had held the record since 1981.

Located at 98 Red River Street, the mixed-use development has rapidly reshaped the Austin skyline. The topping-out ceremony brought hundreds of construction workers, engineers, architects, and city stakeholders together to celebrate the placement of the building's final steel beam — a longstanding construction tradition.

“Waterline has already remade the Austin skyline, but the project’s transformational impact on this area of downtown will be just as significant when the building opens in 2026,” said Seth Johnston, Executive Vice President at Lincoln Property Company.

The final beam, signed by attendees, was lifted into place by a towering crane, signaling a major milestone for a project that began construction in 2022. To date, more than 4,750 workers have contributed to the build, with daily labor peaking at 875 people on site. General contractor DPR Construction is leading the monumental effort.

What’s Inside Waterline?

When completed in late 2026, Waterline will offer a combination of luxury, hospitality, and commerce in a single high-rise, including:

• 352 luxury apartment units
• 700,000 square feet of office space
• A 251-room 1 Hotel Austin
• 24,000 square feet of public-facing retail and restaurant space

The building is set within a 3.3-acre campus bordering Lady Bird Lake, offering panoramic views of the city from virtually every floor. Its design — by world-renowned architecture firm Kohn Pedersen Fox (KPF) — emphasizes modern elegance and eco-conscious urban integration.

A New Era for Austin’s Skyline

Before Waterline, the tallest building in Austin was Sixth and Guadalupe, which also happens to be a Lincoln and Kairoi project. Waterline exceeds its height by a whopping 185 feet, further asserting Austin’s growing role as a hub for innovation, corporate relocation, and upscale urban living.

While the JPMorgan Chase Tower in Houston still holds the distinction of being the tallest five-sided building in the world, Waterline now claims the crown as Texas’ tallest overall structure.

What’s Next?

The tower’s office space is now being marketed to potential tenants, while leasing for the residential units is expected to begin ahead of the building’s grand opening in 2026. The tower’s integration with Waterloo Greenway, Waller Creek, and proximity to the Rainey Street District and the future Austin Convention Center further enhances its desirability.

“Construction continues to redefine Austin’s identity, and Waterline is a symbol of where the city is heading,” Johnston noted. “This isn’t just about building higher—it’s about building smarter and creating destinations where people want to live, work, and gather.”

About the Developers:

Lincoln Property Company is one of the largest privately held real estate firms in the U.S., while Kairoi Residential is a Texas-based multifamily developer known for its high-end residential projects. Together, their work on Waterline reinforces Austin's growing reputation as a vertical city poised for even more growth.

With the tower’s topping out now complete, attention will shift to interior buildout and tenant coordination. Waterline is expected to be fully operational by fall 2026 — a moment that will forever alter the city’s architectural legacy.

Originally reported by Jaime E. Galvan in KHOU-11 News.