A developer plans to build a student housing high-rise near the campus of University of Texas at Austin that would help fortify the Texas capital as the nation’s busiest construction market for apartments aimed at college students.

 
The developer, listed as 2313 Rio Grande Property Owner LLC, has proposed to build a 344,328-square-foot student housing high-rise in the West End neighborhood of Austin, according to paperwork filed last week with the Texas Department of Licensing and Regulation. West End is an area adjacent to the University of Texas and home to most of the institution’s student housing.

 
The project, to be called 24th and Rio Grande Apartments, has an estimated budget of $85 million, according to the state filing. Construction is slated to begin in May 2023 and continue through August 2025.

 
The University of Texas at Austin has the highest bed count in the nation when it came to student housing projects under construction, according to a report from brokerage firm Berkadia. There were 5,318 beds in development around the University of Texas’ flagship campus, the report said. That's well ahead of the second school on the list, the University of Washington, which had space for 4,263 beds in development.

 
A separate application also filed last week with the city of Austin said 24th and Rio Grande Apartments would be 33 stories tall. The complex would have a parking garage and on-site amenities, according to the city filing.

 
The city application was filed by Rhodes Partners, the project’s architect and interior designer. The applicant has requested an expedited review of the student housing high-rise. Rogers O’Brien Construction is listed as the project’s general contractor.

 
The student housing development would replace Cain and Abel’s, a bar frequented by UT students. The bar that opened in 1991 is still in operation.