I did see that it's currently a parking lot, and considering it's the closest thing to a museum district that Austin can boast, it certainly needs this boost. I definitely agree. I do hope, as you said, that this generates more development in that area. My fear is not that this is outside of downtown, but moreso that the skyline will be skewed in a linear fashion and not concentrated in a way that gives Austin a distinct skyline profile. I guess we just have to cross our fingers that more development follows this awesome tower's lead up to North Congress.
I cannot wait until I move to Austin so I can be right in the middle of all this.