With the turn of the decade, there are a number of new and exciting developments that are coming up
within the next few years. The focus in the past has been on the tall buildings that alter the Austin skyline.
But in the current market, our attention has been drawn away from town and the downtown area.
In this article, we outline a few developments that are bound to create some chatter in the property
market.
The pandemic has introduced a number of constraints on physical meetings and interactions. Logistics
and e-commerce technology company, Amazon, has experienced an increase in demand for its services.
Companies and individuals are relying on the company to deliver products all over the country. As a
result, Amazon announced that it will be opening a new fulfillment center in Pflugerville in 2021. The
facility is located approximately 15 miles from the downtown area, along Highway 130. With the
creation of jobs and infrastructural improvements in the area, there is bound to be an increase in activity
as the D-day approaches.
The Talk of Town in North Austin
Austin has been blessed as the regional headquarters of a number of international companies, offering
employment to thousands of workers. One of the largest private employers is the tech company Apple.
Apple has revealed plans to construct a $1 billion campus in North Austin. The new campus will be
located on a 133-acre plot and possibly add another 5,000 employees to Apple’s payroll. This news comes
well in order for residential property owners located in the area who will be looking forward to providing
housing once the new headquarters are completed.
The George H.W. Bush State Office Building
The downtown Austin area has always been the center of massive projects, especially when it comes to
office space. There is a new project at 1801 Congress already in the works, the Texas Facilities
Commission’s George H. W. Bush State Office Building. The development is estimated to over half a
billion dollars and should come into the market in mid-2022. Corporations and retail stores seeking a prime
location in the downtown Austin area should start considering the building. The Texas Lottery
Commission has already signed a tenant agreement.
4700 East Riverside Drive
In terms of costing, sheer size and impact on the market, there are few developments that can match the
project being implemented by Presidium and Partners Group. According to the Austin American-
Statesman, the two corporations have been slowing purchasing and consolidating properties since 2017
for this development which will cost an estimated $4 billion.
The project is a mixed-use development envisions having a park, a hotel, entertainment and commercial
spaces, offices and residential elements. The development is ideally located, enjoying proximity to the
airport, the downtown area, and the giant corporation, Oracle. This will provide a ready market for the
services that are to be offered by the mixed-use development over the years. Due to the size, the
development is projected to be constructed over the next decade or so in phases.
