Cielo Property Group will break ground on a 750,000-square-foot office tower in downtown Austin this summer, according to an email press release from Compass Communications on behalf of the company.

Named Perennial, the 46-story building is the first of two planned high-rises and will house three floors of retail space. It will be located at 208 E. Fourth St., Austin, on the city block east of Frost Bank Tower.

The outdoor space will include a 28-foot waterfall that ends in a sunken garden and a 30,000-square-foot Sky Garden for residents, according to the email.

It is scheduled to be complete in 2025.