More: Block that includes 'Austin City Limits' venue selling to Nashville firm for $260 millionĪnother Austin tower: Work starts on a 28-story condo project in downtown Lincoln Ventures has not provided an estimated cost for the project, saying that information is confidential. The tower has not yet been named for now, Lincoln is referring to it by its address, 80 Rainey. The company plans to break ground next summer, with an estimated completion date in the summer of 2025. Lincoln Ventures said the tower would have 644 rental units. Both bungalows will be preserved, Lincoln Ventures said. The site currently houses two bungalows, including one with a bar called Reina. Lincoln Ventures, a student housing and multifamily developer, said its planned mixed-use tower would be bult at 80 Rainey St. An Austin-based development company plans to build a 49-story tower that would have more than 600 apartments, along with bars and restaurants, adding to the boom in the Rainey Street district on downtown Austin's southeast side.