Austin’s skyline may soon have six more downtown high-rises…one rising 47 stories.

Developers are eyeing the site of the former Austin American-Statesman headquarters for 3.5 million square feet of space for apartments, a hotel, office, retail and restaurants. The newspaper owners, the Cox family, still own the 19-acre parcel. They’re partnering with the Endeavor Real Estate Group to redevelop the property.

The Austin City Council recently voted to let the development group proceed. In exchange, the developers will pay the city more than $23 million to be used to build affordable housing units somewhere else in the city. The site is located near Downtown Austin, just south of the river at 305 S. Congress Avenue.

Plans call for 1,378 residential units, 1.5 million square feet of offices, a 275-room hotel and 150,000 square feet of retail and restaurant space.