Construction on the 372,000-square-foot RiverSouth office project is expected to wrap up in early 2022 with its first tenants moving in next spring.

Development of the 15-story tower from Stream Realty Partners, located at the former home of a south shore Hooters restaurant at 401 S. First St., Austin, has been underway for years. Stream said the building is now around 50% preleased with tenants including emergency communications provider AlertMedia and other existing Austin businesses already signed for local expansions at the site across tens of thousands of feet of space. Following a projected February completion, tenants will begin move-ins in May.

“The leasing demand at RiverSouth has been nothing short of remarkable,” said Brad Philp, Stream managing director and partner, in a statement. “We’re excited by the continued success of the project as it meets a market need for central, large blocks of space and expect RiverSouth to continue on this positive trajectory."

Amenities at the tower include multiple floors of underground parking and bike storage, a fitness center and a 15th-story lounge overlooking the downtown skyline. RiverSouth's ground floor will also feature more than 17,000 square feet of commercial and restaurant space at the intersections of South First Street, West Riverside Drive and Barton Springs Road. The project represents the growth of Stream's presence south of Lady Bird Lake that could soon be followed by its redevelopment of the 19-acre 305 S. Congress Ave. property one block away.