Airbnb is getting into the hotel biz ... sort of. On June 18, NGD Homesharing announced it partnering with Airbnb on a 33-story hotel tower on Rainey Street, the first of its kind for the vacation rental site.

Natiivo Austin, located at 48 East Ave., is permitted as a hotel and will consist of 249 fully furnished units available for purchase by individual owners. The property offers studios and one- and two-bedroom units, which in turn can be rented through the Airbnb platform.

As of now, purchase prices range between $300,000 to $1.2 million, according to a rep, and owners are encouraged — though not required — to rent out their space. But, considering the building is technically a hotel, it can't be a primary residence, thus shattering our dreams of being an adult Eloise.

Guests, meanwhile, can book either a room or the entire property (like Airbnb, owners may rent either), though the experience of staying at Natiivo is different from a traditional rental property.

“First and foremost, it’s designed for guests who crave a more authentic experience while traveling but also offers prospective buyers flexible ownership to match their lifestyle,” explains Harvey Hernandez, founder and CEO of NGD Homesharing, in a release.

Upon check-in, guests will also have access to MasterHost, a 24-hour onsite concierge service, and Airbnb Experiences, the brand's experiential offering site. Natiivo's design will also include spaces for local hosts to host their "experience" inside the building. Other amenities include coworking spaces, cafe lounge, fitness center, and "a rooftop pool deck with private cabanas and lounge for enhanced local stays."

And speaking of the building, design for Natiivo, a massive addition to the burgeoning Rainey strip, is led by architecture firm STG Design with interiors by New York-based INC Architecture and Design. Natiivo will "feature handpicked furnishings, native design elements, hyperlocal touches, and insider Austin culture in every unit, its lobby, and common areas," says the release.

The Rainey Street high-rise will break ground later this year and is slated to open in 2021. In addition to Austin, Natiivo is also opening a similar concept in Miami and plans to eventually expand nationwide.