AUSTIN, Texas — Plans are currently underway to construct a 64-story tower that, if approved, is slated to become Austin's second-tallest skyscraper.
According to a report from KVUE's partners at the Austin American-Statesman, the building would be erected on a site in the Rainey Street district overlooking Lady Bird Lake.
The building's reported cost is estimated at $540 million, according to its developer, M2 Development Partners. The Statesman reported that M2 is targeting an April 2022 groundbreaking for the project, with a name to be announced in the coming weeks. Plans are underway to have it completed by 2025.
The report states that the tower will be built on 1.2 acres at 80 Red River St. It has a proposed height of 802 feet, making it the second-tallest compared to the 6 X Guadalupe building, which is a 66-story tower currently under construction at West Sixth and Guadalupe streets. Developers say this building is supposed to be 840 feet tall once finished.
Currently, the tallest building in Austin is The Independent, which has been called "The Jenga Tower" by locals. It's around 685 feet tall.
To read the full Statesman report, click here.