Tivo_Kenevil wrote:Austin Has the bet Downtown of all the Texaplex cities.
This will only make it better.
Tivo_Kenevil wrote:Wow Austins crushing it. How many downtown apartment towers do they have in the works? Seems like DT Dallas is behind them in this regard.
Tivo_Kenevil wrote:Wow Austins crushing it. How many downtown apartment towers do they have in the works? Seems like DT Dallas is behind them in this regard.
Tnexster wrote:51-Story Rainey Street District Condo Tower Announced at 44 East Avenue
https://austin.towers.net/51-story-rain ... st-avenue/
Apple plans to build a $1 billion campus in Austin that could bring up to 15,000 new jobs, solidifying Texas as the tech giant's main employment hub outside of California.
tamtagon wrote:To be world class, they'll need some signatures bridges
hahaha
Tivo_Kenevil wrote:Austin will overtake Dallas and Houston as the Economic Powerhouse in Texas.
DPatel304 wrote:Tivo_Kenevil wrote:Austin will overtake Dallas and Houston as the Economic Powerhouse in Texas.
I'm curious to hear why you think this is so. I think Austin will continue to have a good run for the next fiveish years, but, ultimately, I see DFW eventually coming out way ahead in the long term. I'm biased though, so I'd love to hear an opposing point of view.
Here is why I don't think Austin will overtake Dallas/Houston:
- Cost of living and congestion will be huge limiting factors to their growth. Dallas/Houston are also struggling with this, but Dallas/Houston also have more mature freeway/public transit systems that are better equipped to handle growth. I'm not as familiar with Houston, but I will say Dallas also has a TON of room to grow in the urban core compared to Austin.
- Lack of big city amenities. Their airport is lacking compared to Dallas/Houston, and they are not included in the 'first phase' of the HSR plans. On a less important note, they also lack the types of museums and sports arenas that big cities have.
Austin does have a lot going for it, but a big part of the appeal of Texas, initially, was the low cost of living. That advantage is quickly fading, so I really wonder how long Austin can continue to attract people and businesses given the rising cost of living. They do have the advantage of having UT and it really helps that it is so close to Downtown, and they have a very strong tech and startup presence.
The demand is certainly there, I guess it all just depends on if they can react quick enough to absorb it all. I've been loosely following their plans to expand their rail system, but, it just seems like they can never get any traction on any of the proposed solutions.
Looking at the wikipedia GDP chart is interesting though... DFWs GDP grew 28 pct over that period, while Austin/RR grew 48 percent over that 5 year period, or 70% faster.
I think Austin is really constrained by its topography (although that is part of what makes it such an attractive place to live, as it is what gives Austin its natural beauty.) The city is really constrained on its west side due to the hill country. Traffic on 290 to reach what could be considered its western suburbs is HORRENDOUS. It's main growth direction is currently towards Round Rock/Georgetown, but that is starting to get quite a ways away from both its downtown core (and UT asset as mentioned earlier) where younger people want to live, and is even further away from its airport.
There is plenty of greenfield space left to the east of the city, near the airport. It's always been a surprise to me that this area isn't more heavily developed, or at least hasn't been more heavily developed during this cycle (I can understand that maybe the demand wasn't there before.) The geography of this area is very bland though, as its pretty much just Texas prairie (...kind of like Dallas!)
DPatel304 wrote:^Thanks for putting that into perspective. If 2017 Bay area still (slightly) lags behind 2017 DFW, then Austin has no chance.
Tucy wrote:To be clear, if you include the entire Bay Area (San Francisco and San Jose), it stands well above DFW. $776 vs 535
DPatel304 wrote:Tucy wrote:To be clear, if you include the entire Bay Area (San Francisco and San Jose), it stands well above DFW. $776 vs 535
Ah gotcha, I didn't consider that. Either way, in relation to Austin and DFW, there's no way Austin is surpassing DFW (in terms of GDP). Perhaps Austin does become the next silicon valley and does reach $776, but, even so, DFW won't remain stagnant during that time of growth.
Round Rock greenlights $200M development 'The District'
The Round Rock City Council cleared the way Thursday for a large, mixed-use development called The District.
City leaders unanimously approved a development agreement with California-based Mark IV Capital, which plans to build the 1 million square feet complex on a tract of undeveloped land south of State Highway 45 and north of Greenlawn Boulevard.
The city announced that the company will spend at least $200 million over the next 20 years developing The District to have office spaces and retail and housing spaces. The city will contribute more than $12 million for infrastructures like streets, sidewalks and utilities.
Google signs lease for yet another Austin office tower
It seems Google Inc. is making a big bet on Austin.
In addition to its recent lease for an entire 35-story downtown office tower, Google will also occupy all of the office space in the Saltillo mixed-use development under construction in East Austin, according to a real estate source with direct knowledge of the new lease.
Google’s latest lease is for 150,000 square feet of space in a seven-story building that’s currently under construction at Saltillo, a 10-acre mixed-use development being built between East Fourth and East Fifth streets.
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