AUSTIN, Texas — Get ready for a little bit of the Big Apple in Austin.
New York City developer Related Companies LP is considering buying a lease in Downtown Austin. The New York developer is responsible for the iconic Hudson Yards in New York City.
The potential lease in Austin is located at 101 W. Third St., which is currently a parking lot. According to the Austin Business Journal (ABJ), it could lead to another skyscraper in Austin's growing skyline.
ABJ reported that Related Companies on Dec. 2 entered into an agreement to acquire the ground lease at the location, but it could take months for that agreement to finalize.
If it is finalized and the developer builds a skyscraper there, it could be a "massive tower," the ABJ said. The site reportedly offers 1.3 million square feet of development, while Indeed's 36-story tower is 733,000 square feet.
The Hudson Yards is a 28-acre development in the Chelsea and Hudson Yards neighborhoods of Manhattan, New York City. The enormous, mixed-use development has been attributed to transforming a bleak part of town into an attraction.
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