Downtown Austin Still Has A Lot of Room for Growth

Posted by Kent Redding on Monday, May 21st, 2018 at 1:58pm

By the Kent Redding Group

AUSTIN, TX. – Thanks to recent data from COMMERCIALCafé, an online real estate listing platform, we know that in spite of Austin’s growth over the last 5 years there’s still plenty of room left for growth downtown.

How much growth? Downtown Austin Texas still has about 70 acres left that are development ready in the central business district so even though the city has grown by about 2 million square feet in five years there’s still more room to grow.

A City with A Bright Future

Austin continues to attract people from across the United States thanks to affordable housing prices and all of the benefits of starting a new business or relocating a business to the area.

  • Though Austin has grown by more than 2 million square feet in the past 5 years, it's looking at a hefty 70 development-ready acres of land in its central business district alone, with over 800,000 square feet of office and 221 residential units expected to break ground in the near future;
  • Even with construction pushing inventory numbers up, downtown Austin' development potential is yet to reach full blast and its denizens certainly think there's room for improvement, especially when it comes to housing, homeless shelters, and parks;
  • Affordable housing is of the utmost necessity in the U.S. – 82% of all respondents chose housing and homeless shelters as the most needed development projects, while 77% chose housing and parks as their most desired additions to the city;
  • Walkability is the top infrastructure improvement highlighted in all 25 cities, with subway upgrades and bike lanes the following suit.

Buy A Home in Austin

Are you planning on buying a home in the Austin Texas area? Or maybe you’re thinking about selling your current home in the Austin area? Contact the Kent Redding Group today by calling us at (512) 306-1001 or click here to connect with us online.

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