Lincoln Property Co. and co-developer, Corrigan Properties Inc.,have been working on the 2.9-acre plan for 2000 McKinney Ave.since summer 2004. The goal has been "to create a project that wethink is going to serve that site with the best possibledevelopment," says Elliot Prieur, Lincoln's senior vice presidentand point man for the Texas Capital Bank Building project.

Executives from Lincoln, Corrigan and Texas Capital Bank turnedthe first shovels of dirt before 150 guests at an on-site ceremony.Prieur says the tower will go vertical in mid-March, with workstarting immediately on underground parking areas for bothbuildings. The office tower will deliver in Sept. 2008; the 15condos and 6,500 sf of street-level retail will come on line in2009.

The office leasing scenario, though, tells the story. Prieurtells GlobeSt.com that there are enough deals working in thepipeline to fill the high rise's balance. The class AA space isbeing marketed at $33 per sf to $36 per sf plus electric in one ofthe city's most expensive office camps, filled with competitionfrom new, planned and existing trophy assets.