Leave it in the Dropbox at 501 Congress in downtown AustinLeave it in the Dropbox at 501 Congress in downtown Austinhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=41692014-05-19T12:23:00Z2014-05-19T06:30:00Z

AUSTIN - The six-story office building under construction at East Fifth St. and Congress Ave. in downtown Austin has landed its biggest tenant — Dropbox.

San Francisco-based Dropbox will lease about 60,000 sf — the top three floors of the new building called 501 Congress.

In February, the Austin City Council voted for an incentive deal for Dropbox totaling $244,500 over ten years. Under the agreement, Dropbox must create 170 jobs during that time with an average annual salary of $59,000 and make a $5.5 million capital investment.

Stream is developing and leasing 501 Congress, which is being built at a cost of more than $30 million.

Dropbox — a cloud-storage and file-sharing service with more than 275 million users — plans to move into the building when it opens in January 2015.

Austin American-Statesman
Austin-Round Rock
http://www.mystatesman.com/news/business/tech-firm-dropbox-bound-for-new-congress-avenue-of/nfymg/#d775ae80.3380261.735372Read more at {Source}

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