Austin Development
In January this year, Forbes ranked Austin, Texas as the top city in its “America's Cities of the Future” list – based on forecast growth and expected prosperity over the next decade. Numerous other publications have also pegged Austin as a “boom-town”, with the city taking top place in the Chief Executive 2015 Best and Worst States for Business. States awarded accolades by the Chief Executive are those that, like Austin, foster growth through progressive business development programs, have low income tax (Austin has 0%) and offer residents a high standard of living.
Texas' fairly recent population and economic booms have been fuelled by the relocation of major technology companies to Austin, including Dell and Samsung
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These include a 29-story commercial building with office lofts and unconventional spaces built on the site currently occupied by the Austin Music Hall; 801 Barton Springs, an office building with views of Lady Bird Lake and Downtown Austin; the UT Administration Building, with 300,000 square feet of office space; 500W. 2nd Street, a 29-story office tower; and 5th and Colorado, an 18-story office building in downtown Austin.
Residential
Many of the neighborhoods in central Austin are fully developed and have little space for new housing. However, many neighborhoods in outlying areas have adequate space for the construction of new homes. These fastest-growing neighborhoods include North Loop; University Hills; Teravista, Round Rock; Crystal Falls, Leander; and Cedar Park.
The most recent projects in downtown Austin include the construction of Seaholm Residences, which will offer studios and three bedroom apartments; Fifth & West Residences, a 154-unit tower that is being constructed on the site of the former Texas Press Association; and a 32-story building with 243 hotel rooms and 100 luxury residences.
A proposed development in the up-and-coming neighborhood of East Austin is thinkEAST, a block with 300 units of affordable housing.