Located off Capital of Texas Highway (Loop 360) and Walsh Tarlton Lane, just west of Barton Creek Square mall, the building will have three levels of office space atop a five-floor parking garage.
The building is expected to open in 2017 and is one of only two office projects currently under construction in Southwest Austin.
JTM is partnering with Cypress Real Estate Advisors on the project. Cypress has owned the land since 2007, when it bought 16 acres that included a Cinemark movie theater. Cypress received city approval to rezone the property for mixed-use development in 2011.
Other construction under way on the site includes the Westerly, a project by Austin-based Centro Development Inc. that will have 168 apartments and 21 townhomes. In addition, Chupik Properties and Design Inc. is partnering with Prominence Homes on The Walsh, 55 luxury townhomes under construction just west of the planned office building.