There have been multiple changes at 2323 S. Lamar Blvd. The 5-story multi-use condominium development was initially dubbed the Montage Condo Projects when it broke ground in March of 2023. Fast-forward through a montage of construction and filed documents to 2025, and the downtown Austin building now goes by Zephyr Residences, according to the Pearlstone Partners website.
Pearlstone Partners, a local real estate team with some big projects around Austin, owns the property, which will consist of nearly 200 residential units, a courtyard with a pool, a fitness center, co-working space, and rooftop lounge. In addition, the ground floor has commercial and restaurant space.
According to recently submitted permits, the reality group intended to open an eatery called Costeno Restaurant and Bar on the ground floor of Zephyr. Pearlstone Partners President, Chris Zaiontz, shared with What Now Austin that the new restaurant is no longer in the works.
“We won’t be launching that restaurant; we’ll be just doing more of like a coffee shop,” Zaiontz said via voicemail.
The new concept does not yet have a name. Zaiontz confirmed via text that the coffee/cocktails concept will be in the lobby and that he and his team will run it.
The new concept will be part of the construction currently underway on the 167,000 square-foot downtown building.
It’s too soon to tell what will be on the menu and when the coffee/concept will actually open but construction is expected to be done before the end of the year. Zaointz shared that he expects to share more details in the coming weeks.
