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A 48-story apartment building is now under construction in downtown Austin. The high-rise, named Paseo, is being built at 80 Rainey Street, and will feature nearly 600 apartments and amenities, plus restaurant space on the ground floor. Austin-based LV Collective declined to give an estimated cost for the project and said it's too soon to quote estimated apartment rental rates. The Paseo is scheduled to open in late 2025.