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AUSTIN-Guerrero-McDonald & Associates Inc., an Austin-based design and construction firm, is plunging ahead on a plan to build 60,000 sf of condo, office and retail space on land northwest of Downtown.

The company, which owns the land at 1701 Lavaca St., is negotiating an interim financing package for the eight-story project, which will include 44,500 sf of parking. Plans call for four floors of condos and three floors totaling 24,000 sf dedicated to offices and street-level retail. The 120-spot garage at La Vista on Lavaca will service residents and building users.

Guerrero-McDonald reportedly is preparing to spend at least $15 million to finish the project, which will feature residential units from 700 sf to 1,700 sf. The property is situated midpoint between the Capitol and the University of Texas. The site houses a former pharmacy that is being converted into a marketing office.

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