Downtown Austin tract sold for Waller Creek development

AUSTIN – The developers of a proposed downtown Austin development have purchased more land that could allow their project to grow to 2 million sf of development.

New York-based MG Properties and The Sutton Co. purchased a 1.4-acre tract at E. Cesar Chavez St. and Red River St., along the banks of Waller Creek. The land is across from the three-acre site the group already owns.

The new site provides an additional 607,640 sf of development, which potentially could be used for a second phase, said Mac Pike, chairman of the Sutton Co.

Construction is expected to start this summer on the larger site, where three buildings are still planned, according to Pike.