Austin-based World Class Capital Group, an investment and asset management firm, has purchased the remainder of the downtown block that surrounds the 56-story Austonian skyscraper. The parcel, located on Congress Avenue and Second Street, is 59,000 square feet and currently houses the Austin Children’s Museum and a surface parking lot. The site is nearly twice the size of the Austonian’s site.
Although no immediate plans have been made to develop the site, representatives from World Class Capital Group say the site could exceed 1.4 million square feet of development. This would make the parcel one of the largest and most dense developments in the downtown business district.
Read more about the development here.