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N.Y. investment firm joins $400 million Waller Creek project

By Shonda Novak - American-Statesman Staff

A New York investment firm said Thursday that it has signed on as a financial backer of one of the most ambitious projects ever planned for downtown Austin, a move the developer said puts the $400 million project on track for a fall groundbreaking.

McCourt Global told the American-Statesman that its real estate venture, McCourt Partners, teamed with Austin-based developer the Sutton Co. to buy 3 acres along Waller Creek for the project, which envisions three skyscrapers, the tallest of which could be more than 50 stories. About 1.4 million square feet of development is envisioned for the project, which is tentatively being called Waller Creek Center. The development would include offices, apartments and condominiums, a hotel, shops and restaurants.

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