Construction has begun on the Natiivo, an Airbnb-linked hotel, with construction projected to be completed in 2021. The 33-story condo development will have 249 units. Buyers won't be able to live there full-time and are encouraged to rent out their units on Airbnb when they are not staying there.
Newgard Development Group Homesharing will manage the property. Natiivo Austin units are available for purchase online. They will range in price from $300,000 to $1.2 million. The studio, one-bedroom and two-bedroom units will range in size from 454 to 1,390 sq. ft. This 21st Century timeshare is different from a regular timeshare because the buyers own their unit and don’t share it with other owners throughout the year.
Because the building is zoned as a hotel, owners can only reside in the building for a maximum of 30 days at a time. They can come back and stay as many times as they would like throughout the year. Owners pocket all the proceeds of Airbnb rentals, minus a management fee and Airbnb rental fees. The amount of those fees are not available at this time.
Unit owners will have to pay hotel occupancy taxes, as well as, property taxes. They will not be able to claim homestead exemptions. Units come stocked with premium linens, robes and slippers. Each apt will have in-room laundry and kitchens stocked with essentials. Ahead of their stay, owners and guests can request a stocked fridge, dog-walking services and fresh-cut flowers. Natiivo will have a 24-hour onsite concierge to help guests navigate the city, and to handle all reservation requests, check-ins and check-outs. Natiivo Austin will have coworking spaces, a cafe lounge, a spa-inspired fitness center and a rooftop pool deck with private cabanas an