Ari Rastegar is Building Mixed-Use Project on South Congress

UPDATE 2/18/25 11:30am

The Peter Pan of Austin real estate has plans to start construction on a mixed-use development in Austin.

Millionaire biohacker Ari Rastegar, who in 2021 claimed to have the “biological age” of a child, filed plans with the state for a $63 million project at 5412 South Congress Avenue called “Infinity Living.” Dallas-based architect Corgan is designing the project.

Rastegar is planning to start construction in June and complete the project by the end of 2026. Rastegar filed site plans for the project with the city of Austin more than a year ago, Urbanize Austin reported. He finished purchasing the nearly 3-acre plot for the project in 2020.

The 450,000-square-foot mixed-use development will feature 289 multifamily units as well as retail and a parking garage, according to the state filing. The estimated cost works out to $218,000 per residential unit.

Rastegar claims to have $1.5 billion of projects in the pipeline in Texas and Arizona, including Infinity Square, a 318-acre master-planned community between Austin and San Antonio in Kyle. At full build-out, Infinity Square will have 1,000 single-family homes and 1,400 apartments. He secured a $31.7 million construction loan from Trez Capital for the project last summer.

He’s also developing a 600,000-square-foot industrial complex near Tesla’s Gigafactory and Infinity Views, a 24,000-square-foot office building in Austin.

In addition to his real estate ambitions, Rastegar has plans to live as long as possible, traveling to Tijuana, Mexico, for stem-cell infusions not approved in the U.S. He eats a diet tailored to his genes and claims to take up to 150 supplements a day.

The multifamily market in Austin is facing oversupply, leading to significant rent declines, with some submarkets experiencing drops as high as 12.8 percent year-over-year. But there are signs of potential recovery, as major investors like Camden Property Trust are making strategic purchases, anticipating a rebound in the market by 2026.

This story was updated to reflect that Corgan is based in Dallas, not Austin.