Summary
The Code is a newly completed, five-story boutique hotel-condo property featuring 176 short- and long-term stay accommodations with ground-floor retail, ideally located in Austin’s highly desirable South Lamar corridor. Situated just south of Lady Bird Lake and minutes from Downtown Austin’s central business district, the property offers convenient access to Zilker Park, and the the city’s premier dining, entertainment, and employment districts.
Completed in February 2026, The Code features a curated amenity package that includes a rooftop lounge, courtyard pool, full-service coffee shop & bar, concierge and guest services, co-working spaces, fitness and wellness offerings, and secure parking. The Code operates as a full-service hotel while also offering condominium units for purchase, giving individuals the opportunity to own a residence within a professionally operated, highly amenitized hospitality environment while benefiting from Austin’s strong tourism and long-term residential demand.
C-PACE Opportunity
Nuveen Green Capital provided $54 million in C-PACE financing to Austin-based sponsor Pearlstone Partners. C-PACE proceeds were used to recapitalize the property and pay down an existing $60 million construction loan. By utilizing C-PACE, the sponsor was able to simplify their capital stack with long-term, fixed-rate capital.
