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onstruction has begun on Sixth&Blanco, an ultra-luxury condo project in Austin's Clarksville neighborhood, following a $193 million construction loan from Arvest Bank, with participation from Prosperity Bank and Southside Bank. The five-floor mass-timber development was designed by Swiss architect Herzog & de Meuron and will feature 10 homes on the top two floors, a 57-key hotel, and 50,000 square feet of retail and restaurant spaces.

    The condos start at $10 million and have already seen interest from buyers, with five reservations placed so far. Two MML-owned businesses, Swedish Hill and ByGeorge, have signed leases for the retail space, joining other nearby restaurants owned by MML co-founder Larry McGuire.

    This is MML's first residential development, but a partnership with Riverside Resources has helped balance out their expertise. "We get to do the things we're good at, and our strengths and weaknesses fit together in a nice way," McGuire said. Construction is expected to be completed by the second quarter of 2027.

    The loan is one of the largest in recent memory for Austin, with McGuire noting that the market timing was unique. "We're really pleased that these banks saw the vision," he said. The project's success could add to a growing number of high-end condominiums attracting new buyers to Austin.