Urbanspace Adds to Austin’s Skyline With The Modern, a 56-Story Downtown Condo Tower

CEO Kevin Burns and the Urbanspace team share the story behind their first ground-up tower on Rainey Street

By Sabrina Macias – Staff Writer, Austin Business Journal
Jan 27, 2026
Photo by Shutterbug Studios – Aerial view of The Modern, Austin’s newest resdiential tower.

In 2006, Kevin Burns, CEO of Urbanspace, purchased half of the site that would later become the company’s first developed tower. It wasn’t until well over a decade later that the tower would break ground and join the high-rise transformation of Austin’s Rainey Street.

After purchasing the site, Burns faced ill-timed circumstances as a recession put his ambitions on hold. Instead, he leased the land to Bridget Dunlap, who later opened Austin’s beloved Container Bar, while waiting for the right moment to return to his architectural goals.

Between 2009 and 2019, Burns acquired the second half of the site at 92 Rainey Street—formerly home to Austin’s Bungalow Bar—through a series of negotiations and partnerships, clearing the way for the company’s first tower. “Urbanspace has been so integral in many of the other towers—from sales and marketing to unit mix, branding, and design—that we felt it was time for us to make our mark,” shared Burns.

A vertical neighborhood takes shape

Urbanspace began working with design and architecture firm Nelsen Partners in 2019 to develop The Modern, a “vertical neighborhood” designed with intention and attention to detail. The 56-story tower, unveiled in 2025, includes 319 residential condominiums, with amenities on levels 16 and 34, an office on level 17, and residences occupying floors 18 through 56.

Floor plans were designed to accommodate multiple stages of life, from single residents to multigenerational families. Burns said what sets the project apart is Urbanspace’s insider perspective. “We as developers live in the building and have lived downtown for several years,” said Lara Burns Boyda, Chief Operating Officer of Urbanspace. Burns added, “We are walking the walk and talking the talk.”

“Above all, we wanted it to be a community,” Burns Boyda said. “You go into some buildings, and the amenity spaces feel very public, and that can discourage people from using them. We wanted it to be an extension of our residents’ living room.”

Read the full article at TRIBEZA.com »