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Back in November, Wilson Capital announced its plans to build the "tallest tower in Texas." Now, the Wilson Tower won't get anywhere near that title.
The proposed 1,035-foot-tall Wilson Tower was initially supposed to be an 80-story apartment building with 450 units. The company announced earlier this week, however, that it would only be 45-stories and have 350 units, MySanAntonio reports. The tower was set to break ground this summer at 410 E. 5th Street in Austin.
In January, the tower didn't get approval to start construction from the City of Austin's Design Commission, which forced Wilson Capital and its architects to start anew. The company issued the following statement regarding its re-approach to the tower's new design:
We are making some changes in response to both the Design Commission’s feedback and current market conditions. Construction costs and interest rates are both higher now than they were when we originally designed the project. We believe this new design is more appropriate to provide an activated ground floor while remaining feasible in today’s environment.
It remains unclear at this time if there's a new timeline for breaking ground on the tower.
The shrinking of the Wilson Tower makes way for the 74-story Waterline tower to be the tallest in the state. Construction started back in September and is slated to open in 2026.