A new tower is planned for the site where Austinite’s often grab a bite at Irene’s and Taquero Mucho. The project, proposed to be 40 stories tall with 359 residential units, will be built on just over half an acre at 506 West Avenue. The Shoal Creek project will include a parking garage and rise to about 565 feet tall; it is being developed by Austin developer Riverside Resources.
The developer has agreed either contribute on-site affordable housing or pay into Austin’s housing funds through the Downtown Density Bonus Program as reported by the Austin Business Journal. This proposed building will stand slightly taller than both Frost Bank Tower and Indeed Tower while located two blocks from The Independent—currently Austin’s tallest completed building at nearly 700 feet tall; the 66-story, 875-foot Sixth and Guadalupe project remains under construction.
This new tower in downtown Austin promises to bring more development opportunities for residents of all income levels looking forward to its completion in 2021!
