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SUGAR LAND, TX-Threshold Interests One LP has finalized plans for the first residential condominium high-rise in Fort Bend County. The Houston-based developer will break ground on the 12-story Austin Tower Lofts in the fall.

Industry experts familiar with the project say it has a price tag of more than $20 million. Situated within the 32-acre Sugar Land Town Square, the Austin Tower Lofts will be ready to occupy in summer 2006. The tower, fronting Texas Avenue, is adjacent to Cafe Express, the Marriott Hotel and Sharper Image.

The tower will have one- and two-bedroom condos, ranging from 960 sf to 1,500 sf, and a quartet of two-story penthouses with more than 4,000 sf. Buyers also can combine units to get up to 5,000 sf of living space. Amenities include a fitness facility, residential pool, 24-hour doorman and parking garage.

Threshold Interests, which recently received the Landmark Award for its Waterway Lofts project in the Woodlands, tapped Houston-based Ziegler Cooper Architects for the design of the Austin Tower Lofts. The project is named after Stephen F. Austin, who colonized Sugar Land, says Threshold Interests’ president Doug Crosson. He adds the high-rise’s moniker also fits in with the Town Square’s plaza fountain, which features a sculpture of Austin emerging from the Brazos River.

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