Austin continues to boom. Business Insider says Austin had the second highest rate of job growth among the 40 largest metro areas in America, with employment rising 3.7 percent between February 2017 and February 2018. The most visible representation of our rapid economic development is our ever changing downtown skyline. Just think about this: of the 8 tallest buildings in downtown Austin today, not a single one of them existed 10 years ago!
According to the Austin Downtown Alliance, downtown will grow by 50 percent if it only completes projects currently under construction and those proposed for redevelopment. However, downtown Austin has the potential to double in size if it reaches its full build out potential in the next 5 years.
Below is just a glimpse of the developments that are shaping or will continue to shape the Austin skyline…
6th X Guadalupe St—when completed this will be the tallest building in Austin. 837 feet high & 66 stories of apartments and offices stacked atop each other. An acre of parks in the sky are in the plans for this skyscraper.
The Independent— luxury high rise condominiums and currently Austin's tallest building, taking the title away from The Austonian, which laid claim to the tallest building in Austin for about eight years.
The Republic at 401 W Fourth St, just south of Republic Square Park, will have 711,401 square feet of office and 21,463 square feet of retail.
70 Rainey—a 34-story skyscraper with 164 condos that tower over Rainey Street.
48 East Ave—a 33-story, 215 condo tower also located in the Rainey Street Historic District.
Waller Park Place—more than 3 million square feet of residential, commercial and office space at Red River and East Cesar Chavez streets. This will be a big property—roughly the size of six Frost Bank Towers!
Block 71—Indeed Inc. will lease the top 10 floors of this office tower under construction at the intersection of Sixth Street and Colorado Avenue.
5th & West—154 luxury condos that stand 37-stories tall.
The Austin Proper Hotel—a 32-story luxury hotel and residential combo.
Third + Shoal — an office tower near The Independent, the new library and Google’s tower — with tenants such as Facebook and Bank of America.
300 Colorado Office— at Colorado and Third Street will be redeveloped into a 32-story office tower with about 390,000 square feet of space. Fourteen of the building’s 32 floors will be dedicated to parking.
ZaZa Tower—This 24-story tower on West Fourth Street near Lavaca Street will offer more than 200 apartments and more than 150 rooms at Hotel ZaZa. Retail stores will line the bottom of the building.
Genesis Real Estate plans to build a 50-story apartment tower in the Rainey Street area on the site of the vacant Villas on Town Lake condos.
Block 185— Google has leased the entire building. set to start construction in 2019. This building will take on a sail-like shape due to its proximity to Lady Bird Lake and Shoal Creek.
93 Red River—347 Units; 40 stories of Multifamily, Office & Retail including five levels of underground parking and seven levels of above ground parking.
405 Colorado—a 197,056 SF building with 12 stories of parking with 12 levels of office space on top.
How do you feel about Austin’s dynamic skyline and economic boom? Like it our not, our city is currently one of the most rapidly changing metro areas in the country, so we need to be prepared to flex and change with it, especially in the real estate sector.