Industry UPDATE CELEBRATING 60 YEARS OF GROWTH AND CHANGE: THE AUSTIN APARTMENT ASSOCIATION’S DIAMOND ANNIVERSARY
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n 1964, when the Austin Apartment Association (AAA) was founded, the landscape of Austin, Texas, was vastly different. The city had a modest population of 217,000, and the median income for all families hovered around $6,6001. The political climate was reflective of the times, with an all-white male city council and mayor Lester Palmer serving from 1961 to 1969. The early ‘60s marked a period of urban renewal, including the controversial Kealing neighborhood project and the expansion of the University of Texas at Austin through eminent domain. The civil rights movement was making strides, with the desegregation of schools and the landmark Civil Rights Act of 1964 outlawing racial discrimination in public
accommodations. As the city’s foundation solidified around government and education, the 1960s laid the groundwork for the tech-centric Austin we know today1. Fast forward to 2023, and Austin is celebrating the AAA’s Diamond Anniversary against a backdrop of remarkable transformation. The city’s population has surged to 966,292, with the metro area reaching 2,228,000 residents2. Austin has become a tech hub, attracting major players like Apple, Google, and Facebook, contributing to the city’s economic growth and cultural vibrancy. The AAA has played a vital role in shaping the multifamily industry over the last six decades. Austin’s population growth and economic prosperity have been key factors in the devel-
Read about AAA’s current advocacy issues at www.austinaptassoc.com/news/advocacy-in-action
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BY CARRIE SMITH
