New Austin Tower to Rise 40-Stories

A new tower is planned for the site where Austinite’s often grab a bite at Irene’s and Taquero Mucho. The project is proposed to be 40 stories and contain 359 residential units. It’s slated to be built on just over half an acre at 506 West Avenue. The Shoal Creek project will include a parking garage and will rise to about 565 feet tall. It’s being developed by Austin developer Riverside Resources.

The developer will also either contribute on-site affordable housing or pay into Austin’s housing funds through the Downtown Density Bonus Program. The Austin Business Journal reported the proposed building will be slightly taller than the Frost Bank Tower and Indeed Tower. The site is located about 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.