T.Stacy's Proposal - 5th & Congress Tower

From Urban Austin

Tom Stacy, a longtime Austin developer, and his financial partner, Walton Street Capital, have revised their plan for property they own at Fifth & Congress and Fifth & Brazos Streets. According to their new $500 million (~1.2 million NSF) plan, they anticipate constructing a ~500,000 NSF office and retail tower at Fifth & Congress and an adjacent, ~700,000 NSF hotel/condo building at Sixth & Brazos.

The office tower is expected to be in the neighborhood of 32-33 stories and possibly 420' (128m) tall. Site preparation is slated to start this June and construction is expected to begin in early 2009. The tower may be delivered in 4Q 2011 or 1Q 2012.

The hotel/condo tower, if built, may become the 6th Tallest Building in Texas...a roughly 66-story, 830' (253m) point tower at the corner of Sixth and Brazos Streets. This building is anticipated to include a 300-room hotel and approximately 200 condominium units. There is no current time frame for the completion of this tower.