Located along the banks of Lady Bird Lake near the northeastcorner of West Cesar Chavez Street and Lamar Boulevard, the planned15-story tower will feature 189,000 square feet of predominatelyClass "A" office space and 10,000 square feet of ground floorretail.

Capital City Partners has dubbed the project Park Plaza. JoeLamy, principal with Capital City Partners, tells GlobeSt. thatconstruction could begin as early as October 2010 for an April 2012delivery. The firm, which is funded by private equity frominstitutions and high net-worth individuals, has the land undercontract for an undisclosed amount.

Lamy declined to name the price tag for Park Plaza, but localexperts indicate that all-in development costs for a class A towerrange from $150 per square foot to as much as $300 per square foot,depending on build out, making the cost of this project exceed $30million.