AUSTIN, Texas — Rainey Street is going to look much different in the next few years!

A new Airbnb-branded hotel is coming to the Rainey Street District and it's going to be 33 stories high, according to the Austin Business Journal.

Natiivo Austin, which is a new hotel created by Florida-based NGD Homesharing in partnership with Airbnb, will open in spring 2022 at 48 East Ave.

The hotel will be nothing short of luxurious, featuring a spa-inspired fitness center, rooftop pool deck with private cabanas and lounge, coworking spaces, a cafe lounge and more.

RELATED: 51-story high-rise in Rainey Street's future

The 249 units in Natiivo Austin will be available to purchase, but buyers won't be able to live in there full-time.

So, how will it work?

Buyers will be able to purchase rooms at the hotel and stay in them when they want. However, they can't use them as their primary residence. Instead, individual owners will be able to rent their unit to guests if they choose to take part in a new Airbnb program.

RELATED: One of the last Rainey Street homes now on the market for $2.65M

If you want to stay in this Airbnb-branded hotel, it's going to cost you a pretty penny. The prices for the units will range from $300,000 to $1.2 million, the Austin Business Journal reports. Studio, one-bedroom and two-bedroom units will range in size from 454 square feet to 1,390 square feet.

A new hotel isn't the only change coming to the Rainey Street District. A 51-story high-rise is already in the works for Rainey Street and one of the last homes in the area was put on the market. The price tag? $2.65 million. The home may be turned into a restaurant, bar, hotel or even a music venue.

WATCH: One of the last Rainey Street homes in Austin now for sale

PEOPLE ARE ALSO READING: 

Manor police: Woman seen in chilling video wasn’t kidnapped

St. Edward's faces suits accusing sexual harassment, wrongful termination and retaliation

Pregnant mother & 2-year-old dead after driver deliberately ran over them, police say