The use of epsilon and the teist on the W logo makes this look like an architecture student's project. Possibly a rendering of a "nice to have", but unlikely to be built project.
I wouldn't get too ahead of yourself. The web site also lists plans for 2101 Milam. I've seen the same concept drawing posted outside that building for about 5 years now.
Drove by last night. There's a city issued work permit on the door, but it doesn't look like anything has been done to the exterior or the balcony. Not sure if progress has been made on the interior.