Cousins Properties announced that it has formed a joint venture with Riverside Resources and Ironwood Real Estate to develop 300 Colorado, a 309,000 square-foot office tower in Downtown Austin. Cousins will have a 50% ownership interest in this joint venture. Located across the street from Cousins' Colorado Tower, 300 Colorado is 100% pre-leased.

Cousins and its joint venture partners anticipate starting construction on 300 Colorado in December of 2018 with delivery targeted for December of 2020. Total development cost is anticipated to be approximately $175 million. 300 Colorado will be developed on a site previously acquired by Ironwood Real Estate in 2006.

Ironwood Real Estate, in partnership with Riverside Resources, originally planned to build an upscale residential tower on the site before partnering with Cousins to develop 300 Colorado.