[BevoLJ]

Proposed 30-story office tower could alter downtown skyline
Austin American Statesman
By Shonda Novak | Wednesday, April 18, 2012, 05:30 PM

Cousins Properties Inc. says it plans to build a 30-story office tower at Third and Colorado streets, a project that could become the first new high-rise office building built in downtown Austin since Cousins opened Frost Bank Tower eight years ago.

Cousins intends to break ground late this year on the new tower, which would have about 390,000 square feet of office space, said Tim Hendricks, senior vice president with Cousins. Twelve of the 30 stories would be for a parking garage with 900 spaces. The building would also have 6,000 square feet of street-level retail.

The project, which Cousins is calling Colorado & Third, would rise on what is now a parking lot across Colorado Street from Sullivan’s Restaurant.

San Antonio-based Hixon Properties Inc. formerly planned to build an upscale hotel on the site. Hendricks said Hixon and Silver Ventures, also based in San Antonio, would partner with Cousins in the project. The land is owned in a partnership between Hixon and Silver Ventures.

Hendricks declined to comment on the estimated cost of the project or potential financing options.



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