Tallest building in Texas being built in Downtown Austin

The tallest building in Texas is being built in Downtown Austin. It's called the "Waterline."

The renderings were sent to FOX 7 from primary developer Lincoln Property Company. 

The building is to be located in the Rainey Street district. Construction is already underway. The site at 98 Red River is across from the popular BBQ spot, Iron Works.

The Waterline will not only tower over Austin’s skyline, but also over Texas. It's going to be 74 stories and 1,022 feet up. 

The Waterline will be the tallest building in Texas, surpassing the Chase building in Houston by 20-feet. The project is part of a partnership between Lincoln Property Company (LPC) and Kairoi Residential.

In a press release, company executive Seth Johnson indicated the Skyscraper will not only have people looking up, but also looking down at what will happen around the site.

"Waterline marks a new milestone for Downtown not only because of its height, but also because of the positive impact this project will have on improving connectivity, enhancing public amenities, and attracting more people to this beautiful area of downtown," said Johnson, in the PR release.

The high-rise is located next to Waller Creek and the development team is donating a million dollars to the Waterloo Greenway Conservancy. CEO Jesus Aguirre spoke to FOX 7 Tuesday and said the two projects can co-exist.

"I didn't realize it's going to be the tallest tower in Texas, which is certainly a point of pride for our city. But again, for us, it's just about making sure that all of these folks, when they come down from the heights of this tower, have a way to move around the city easily, but also connect with nature along the really beautiful part of the great care," said Aguirre.

The million dollars from the Waterline developers will help build a new bridge. It will be located in an area called The Confluence. 

"So this donation, in addition to some funding that that's coming in from the Parks and Recreation Department, really, literally will build an East-West connection. This is going to fund one of three bridges that are going to be in that area that allow folks to go from the western part of the creek over to the east and back and forth."

Without the donation, not all the bridges could be built. 

"The three bridges are part of the overall design because it's important for us to have multiple ways for people to come across. It can't just be about one bridge, but this bridge is critical for us, and particularly in that part of the development," said Aguirre.

Work on The Confluence part of the Greenway starts in December. That part of the trail is set to be completed in about three years. 

Eventually, the trail will get a lot of foot traffic from the Waterline. The building will include 352 luxury apartment homes, 700,000 square feet of office space, and a 251 room hotel. 

The skyscraper is set to be completed by 2026.