311-315 South Congress Avenue offers a multifamily redevelopment opportunity in one of Austin's most significant urban transformation districts. Positioned within the South-Central Waterfront District and immediately adjacent to the former Austin American-Statesman site, the property benefits from an existing Planned Unit Development (PUD) that permits a multifamily tower up to 480 feet in height. For developers seeking a path toward a high-density residential project at the gateway to Downtown Austin, the existing entitlement framework supports greater certainty and efficiency in advancing a future development vision. 311-315 South Congress Avenue currently includes an operating Firestone location on one tract and an approximately 5,092-square-foot office building on the second tract. All existing leases may be terminated following a sale with one year's notice, establishing a defined strategy for transitioning the property to redevelopment. Fronting South Congress Avenue, the development site boasts exposure to approximately 32,200 vehicles, while nearby Barton Springs Road and East Riverside Drive carry approximately 8,926 and 31,458 vehicles per day (VPD), respectively. Located just 1 mile from Downtown Austin and Interstate 35, and within 10 miles of Austin-Bergstrom International Airport, the site offers regional connectivity that supports future residents' accessibility. Surrounding amenities are within easy reach, including national retailers, dining, entertainment, and services located within 1 mile. Rollins Theatre, Palmer Events Center, and Butler Metro Park are within a 10-minute walk, while the Texas School for the Deaf is adjacent to the site, and the University of Texas at Austin is approximately 2.5 miles away. The surrounding 5-mile trade area lends a strong foundation for multifamily developers, with impressive average household incomes of $122,795, annual consumer spending exceeding $5.4 billion, and 172,129 households. Households have expanded by nearly 25% since 2020 and are projected to continue increasing by 5% through 2030, while renter-occupied housing accounts for 66% of surrounding occupancy. The approved PUD, dominant Austin location, and sustained residential demand place 311-315 South Congress Avenue at the forefront of the South-Central Waterfront's next phase of multifamily development.