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New 74-story downtown Austin project could become the tallest tower in Texas

A 74-story project on 98 Red River St. could soon become the tallest tower in Texas. (Kohn Pendersen Fox Associates/Lincoln Property Co./WGI)

A 74-story tower that could become the tallest in Texas will soon be in the works in downtown Austin.

The development, headed by Lincoln Property Co. and Kairol Residential, is set to start construction in the coming months on 98 Red River St.

While there's no official price tag for the project, a filing with the Texas Department of Licensing and Regulation says the tower could cost around $520 million. Lincoln Property Co. Senior Vice President Seth Johnston said the soon-to-be tallest building in Austin will host just over 350 apartments, a 251-room hotel and 686,000 square feet of office space, according to the Austin American-Statesman.

According to Augustine Verrengia, a civil market engineer with the tower's engineering firm WGI, the tower will be over 1,000 feet tall—which could edge it just above Texas' current tallest tower, the 1,002-foot JPMorgan Chase Tower in downtown Houston.

That would put the tower above the 875-square foot Sixth and Guadalupe tower currently vying for Austin's tallest tower status as well as the Independent, or "Jenga" tower, which currently holds the title at 690 feet.

It's all awaiting a building permit from the city of Austin, which the project will need before it breaks ground. More details, including the tower's name and official size, will be announced in the coming weeks, Johnston said.

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