May 02--Two Austin developers are proposing a $500 million mixed-use project downtown that -- if it happens -- would change the skyline with three new towers, including a high-rise with condominiums and hotel rooms that could become Austin's tallest building.

Mac Pike and Wally Scott, principals in the Sutton Co., a real estate investment and development company, told the American-Statesman they want to build their project -- tentatively called Waller Center -- on 3 acres near East Cesar Chavez and Red River streets, along the banks of Waller Creek.

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