AUSTIN, TX—McCourt Global, which was founded by developer and sports entrepreneur Frank McCourt Jr. and his sons Drew and Travis, is said to be partnering with Austin-based Sutton Co. to take over the Waller Center project. The $500 million mixed-use complex, located near Cesar Chavez and Red River Streets along Waller Creek, will be developed under a new name, according to a recent report in the Austin Business Journal.

The amount of McCourt’s investment was not disclosed, the Journal said. The land needed for the for high-rise was purchased from Austin businessmen Robert Knight and Perry Lorenz on March 18.

This is McCourt’s first investment in Austin.

McCourt owned the Los Angeles Dodgers from 2004 to 2012, and has been involved in numerous high profile real estate developments.

The Sutton Co. has built several condominium and commercial projects in Austin during the past 25 years. The Waller project, announced in May 2013, will include three high rise buildings among the tallest in downtown Austin.

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