Exclusive look inside W Hotel on 2nd

AUSTIN (KXAN) - In just a few months, the new W Hotel - along with the new Austin City Limits venue in Downtown Austin - will open.

Construction on the W Hotel started back in May 2008 and is set to be finished by December. However, the best way to see how this $300 million project is coming along is to go inside.

Stratus Properties CEO Beau Armstrong is our guide. The first few floors are still in the sheet rock stage, and the entrance includes a grand staircase and several different bar areas.

The gym on the second floor offers a view of Austin's rolling hills. Yet, in order to get the best view, you have to go up.

The 37th floor has four penthouse units.

"We have these soaring ceilings on this floor," said Armstrong. "It's almost 30 feet deck to deck."

Floor-to-ceiling glass windows with 3,000 square feet and amazing views will cost around $3 million. So far, two of the four penthouses units have sold.

There are a total of 159 condo units, which start at $400,000 for just 700 square feet.

Below the condos is the hotel, with 251 rooms designed with modern furniture and colors.

If you walk up the staircase that faces Second and Lavaca streets , it will lead you to the 2,200-seat ACL venue, which has a capacity of 3,000 for a general admission show with standing room. The goal was to keep its footprint as close to the current location at the University of Texas .

Since Willie Nelson was part of the planning, developers put in a smoking balcony off the greenroom space.

Developers said they hope to have the new ACL open in time for New Year's Eve.

There's also 50,000 square feet of retail space in the hotel, but so far, there are no announcements on who will be using it.