The W Austin Hotel & Residences project downtown, which is the planned to be the future home to Austin City Limits tapings, needs new financing. Corus Bank was signed up to provide a $165 million construction loan, but has been hit hard by the economic downturn and assigned the loan to a subsidiary of the developer, Stratus Properties, in exchange for a $250,000 reduction in the outstanding balance. According to Stratus, they are "aggressively pursuing other options for financing the future construction costs," including additional equity contributions by the current developers, a new loan, new equity partners, or a combination. If they can't come up with the money, construction may be delayed. more ›