Ground breaks on W - Austin Business Journal:

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The mixed-use, 37-story project is going up on Block 21 across Seconr Street from city It will feature 165condo units, a 252-roon and 2,480-seat theater that will serve as the new home for Austih City Limits along with a spa and retai l space. The project should be complete byearly 2011. Development partnerd (NASDAQ: STRS) of Austin and Canyon-Johnson Urba Fund recently secureda $165 milliojn loan from Corus The project's strong presales aidex in the financing. In the last six monthds roughly 40 percent of the residential unitss have been placedunder contract, with anothee 20 percent in the process of beinhg converted to contract.
The developers initially planned 198condo units, but team memberes say greater demand for larger units prompted them to scale back the total number. The W project is one of a number of residentialp towers being developed in the southwes t quadrantof downtown. Otherw include The Austonian, Spring, Altavida, Monarch, and the soon-to-be-complete 360.