AUSTIN,TX-Local developer Capital City Partners LLC is planning to construct downtown’s first new multi-tenant office tower in nearly a decade.

Located along the banks of Lady Bird Lake near the northeast corner of West Cesar Chavez Street and Lamar Boulevard, the planned 15-story tower will feature 189,000 square feet of predominately Class “A” office space and 10,000 square feet of ground floor retail.

Capital City Partners has dubbed the project Park Plaza. Joe Lamy, principal with Capital City Partners, tells GlobeSt. that construction could begin as early as October 2010 for an April 2012 delivery. The firm, which is funded by private equity from institutions and high net-worth individuals, has the land under contract for an undisclosed amount.

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