A full scale 9.7m Schwarzschild-Couder (SC) Telescope is a prototype for the Medium Size Telescopes (MSTs) of the Cherenkov Telescope Array (CTA) observatory. The SC-MST has been proposed as an instrument capable of achieving the ultimate performance of the imaging atmospheric Cherenkov technique (IACT) in the energy range from 100 GeV to 10 TeV for the CTA installation. Comparing to the present day IACT observatories, the SC-MST employs an aplanatic two-mirror optical system to simultaneously increase the field of view to 8 degrees and significantly improve the imaging resolution via reduction of the camera pixel size to 0.067 deg. The fully populated compact SC-MST camera will have a diameter of 80cm and is assembled from 11,328 SiPM pixels augmented with fast, highly integrated electronics based on custom ASICs and FPGAs. The project has been in development since 2012 and prototype SC-MST construction started at the Fred Lawrence Whipple Observatory in southern Arizona in early 2016. In this contribution we will provide an overview of the project and its status.