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Ledgestone Development Group has received approval from the Austin City Council to build a 20-story condo development on E. 16th Street and I-35, currently home to a Denny’s restaurant. Located near the Swede Hill neighborhood on a 1.2-acre property, this project will include 250 condos as well as potentially a cocktail lounge. Rezoning documents show that while maximum building height is set at 230 feet (20 stories), it will be limited to 40 feet near 16th Street in order to create an appropriate buffer with low-lying residential areas south of the site. The Las Vegas based McGrane Living Trust owns this $8 million valued property according to Travis Central Appraisal District records reported by Austin Business Journal .

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