Due to its proximity to Lady Bird Lake, one of the most prominent construction projects changing the Austin skyline is the Park Tower project from Gables Residential. It is being built right next to the original Park Plaza project, just east of North Lamar between 2nd and 3rd streets.
In 2010, this site was originally planned for a 15-story Class A office building, but that plan never came to fruition. Gables opted to develop the site as an 18-story residential project instead, and broke ground in late 2011.
The project is expected to complete late this year.