STATE OF DOWNTOWN AUSTIN 2022
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STATE of DOWN T OW N AUSTIN 2022
TABLE OF CONTENTS
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DOWNTOWN AUSTIN ALLIANCE
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ART, CULTURE AND LIVE MUSIC Downtown’s unique vibe is felt both day and night. A PRIME LOCATION
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OFFICE MARKET & EMPLOYMENT Leasing activity returns to prepandemic levels.
18 RETURN TO OFFICE More employees return to downtown offices.
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DOWNTOWN ECONOMIC INDICATORS
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Downtown is the center of Austin’s economic vitality and quality of life.
20 HOUSING MARKET & RESIDENTS Demand for downtown living booms.
24 RETAIL & SMALL BUSINESSES Capitalizing on the rebound of consumer demand.
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NIGHTLIFE ECONOMY Economic impact of downtown’s entertainment districts.
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HOTELS & TOURISM
34 DEVELOPMENT PIPELINE Rapid development continues shaping downtown’s districts.
36 DEVELOPMENT OVERVIEW Development is picking up pace at new scale and new heights.
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BUILDING FOR THE FUTURE
October and March show promising signs for downtown recovery.
38 INVESTMENTS SHAPING DOWNTOWN’S FUTURE
New infrastructure ushers in a new era.
BEE CREEK PHOTOGRAPHY
40 URBAN GREENBELT A walkable and accessible park system for everyone.
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COMMUNITY SURVEY Austinites’ perceptions and priorities for downtown.
44 RANKINGS 46 TEAM & ACKNOWLEDGEMENTS
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DOWNTOWN IS AUSTIN AMPLIFIED
STATE OF DOWNTOWN AUSTIN 2022
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DOWNTOWN AUSTIN ALLIANCE
LETTER FROM THE CEO Our 2022 State of Downtown Report presents the latest
Our downtown stakeholders are collaborating on long-
data on a wide array of economic indicators that impact
term plans to address our explosive growth and take an
downtown Austin. This annual overview provides a
active role in creating a thriving and welcoming center.
current picture of downtown Austin today and what’s
As the region flourishes, the demand for transportation
anticipated for the future. As we continue to recover
connections and well-maintained park space continue
from the pandemic, we look forward, envisioning all that
to grow. Major infrastructure investments such as Austin
downtown Austin is and can become.
Transit Partnership’s Project Connect will link downtown to the rest of the city with a new multi-billion dollar rail
It is important to note that downtown Austin is still
system, featuring a downtown tunnel and all-electric fleet.
recovering from the impacts of COVID-19, however, we
Also, the official funding of the $4.9 billion Capital Express
ended 2021 in a strong position. Downtown’s office
Project will offer us a once-in-a-lifetime opportunity to
market is on the rebound with a rapid surge of leasing
lower the central-city highway and connect our city like
activity, leasing more space than any other submarket
never before. These and other initiatives will transform
in the nation as many employees are returning to
downtown for generations to come.
their downtown offices. Downtown’s housing market has surpassed pre-pandemic levels as demand for
We are excited for the future. Downtown is the pulse of
downtown living continues to grow. Increased foot traffic
our community that creates a spirit generated by the
reenergized downtown’s retail and nightlife venues as
diversity of people who frequent it daily. Together, we
vaccination rates increased and businesses reopened. The
amplify downtown, weaving together a mix of uses that
year 2021 reminded us that all the best parts of Austin are
support each other and result in the Austin we know and
found in downtown. Whether it’s parks and open spaces
will always love.
offering respite and recreation, a vibrant and interactive nightlife, or the ever-changing skyline, Austin is amplified by its downtown. It’s the heartbeat and pulse of this thriving region.
DEWITT PEART
The city’s urban core is successful because the people
President and CEO
who come downtown always leave with a sense of love and appreciation for how unique this place feels. Those feelings are both organic and intentional; organic because downtown feels like it has always been here and intentional because we can witness it being shaped into something better. Downtown is growing rapidly and several upcoming opportunities highlight how important people-centric placemaking is to ensure this growth is realized without changing that feeling.
Downtown Austin Alliance
Dewitt Peart
STATE OF DOWNTOWN AUSTIN 2022
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DOWNTOWN AS A PERCENT SHARE OF THE CITY’S TOTAL REVENUE
I-35
Lamar Blv d.
Martin Luther King Jr. Blvd.
Lady Bird Lake
16% sales
32%
hotel rooms
34%
mixed beverages
DOWNTOWN BOUNDARIES
Source: State of Texas Comptroller, 2021
Downtown Austin Austin Downtown Public Improvement District
Downtown Austin is generally defined as the 1,100-acre area bordered by Martin Luther King Jr. Boulevard, I-35, Lady Bird Lake and Lamar Boulevard. The Austin Downtown Public Improvement District, or PID, is a district within downtown Austin specifically formed for the purpose of enhancing, improving or promoting the interests of the district. The Downtown Austin Alliance, the PID’s managing entity, leads and participates in a broad range of initiatives that enhance the value and vitality of downtown Austin.
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DOWNTOWN AUSTIN ALLIANCE
DOWNTOWN IS AUSTIN AMPLIFIED From live music to coffee shops, community parks to historic theaters, office space to locally owned businesses, downtown is a collection of the best of what Austin has to offer and then some. In recent decades, downtown Austin has continued to evolve, oftentimes exceeding previous levels of investment, attracting more people, business, culture, civic engagement, arts and creativity at every turn. The energy of the place we call downtown is unmatched by any other part of the city.
All the things you love about Austin are maximized downtown. Downtown serves as an economic anchor for the Central Texas region due to its concentration of jobs, transportation connections, and density of real estate development. Downtown is the heartbeat of the community amplified by its stamp on live music and entertainment, variety of food choices and experiences, and vibrancy generated by the diversity of people who frequent it each day. The city center connects the community providing an atmosphere like no other, featuring high-quality parks, art and public spaces. The center city ecosystem brings together a mix of uses that support each other to create a unique experience that generates several radiating benefits to the rest of the region.
STATE OF DOWNTOWN AUSTIN 2022
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spaces g in t a e r c y jo n e ”I ere h w s e c n ie r e p x e and t. people can connecmusic, Whether it’s live ith getting active w touring family, friends or public Austin, beautiful spaces make the difference."
DOWNTOWN BY THE NUMBERS Downtown makes up only 0.5% of Austin's land area but has substantial economic importance.
13,648
5.1M
residents
unique visitors annually
9,447
2.03M
residential units
annual transit ridership
106,500
150+
employees
acres of parkland
13,514
190
hotel rooms
historic locations
-SaulPaul
Source: U.S. Census 2020, Placer.ai, JobsEQ, Capitol Metro, Visit Austin, City of Austin, 2021
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DOWNTOWN AUSTIN ALLIANCE
ART, CULTURE & LIVE MUSIC Downtown Austin is much more than a business district, civic center, or entertainment hub. Millions of visitors, employees and residents come downtown to experience the uniquely Austin vibe we’re known for. Whether it’s day or night, downtown Austin is emerging as an 18-hour destination with the addition of major concert venues featuring national tours, global headquarters laying roots, expansive arts, music and cultural venues, and a growing residential population. Downtown offers a full ’live, work, play’ experience in one place. Live music is essential to Austin’s internationally known identity as the Live Music Capital of the World. This brand recognition permeates through downtown’s rich and vibrant nightlife. Small stages across downtown nightclubs showcase local and worldclass talent, while Austin City Limits Live and Moody Amphitheater are renowned concert venues for larger audiences. Every year, thousands of Central Texans that don’t work or live near downtown visit in early December to experience the holiday cheer downtown, watch the Capitol tree lighting, and kick off their holiday shopping. On a more regular basis, downtown’s public markets are a community staple, bringing together local artisans, specialty shops, unique finds and eateries that embody that Austin vibe. The Sustainable Food Center hosts the Downtown Farmers’ Market weekly at Republic Square. The market has served the community since 2003 and features local farmers, small businesses, community programs and family activities. Frida Friday, Austin’s monthly market centered on supporting and amplifying local creatives of color, LGBTQIA identified folks, and women, hosted “The People’s Holiday Market” at downtown’s Republic Square. Held in December, the event hosted several vendors featuring a full day of holiday shopping highlighting Austin’s robust and diverse artisans and creatives.
From day to night, downtown Austin is an emerging 18-hour destination.
STATE OF DOWNTOWN AUSTIN 2022
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DOWNTOWN VISITOR ACTIVITY (by the hour) Weekdays (Monday–Thursday)
Weekends (Friday–Sunday)
7M 6M 5M 4M 3M 2M 1M 0
12:00 1:00 2:00 3:00 4:00 5:00 6:00 7:00 8:00 9:00 10:00 11:00 12:00 1:00 2:00 3:00 4:00 5:00 6:00 7:00 8:00 9:00 10:00 11:00 AM AM AM AM AM AM AM AM AM AM AM AM PM PM PM PM PM PM PM PM PM PM PM PM Source: Placer.ai, January – December 2021
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DOWNTOWN AUSTIN ALLIANCE
STEVEN PAHEL
A PRIME LOCATION AUSTIN TALENT STATS
#7
CBRE Tech Talent Rank
79,230 Total Tech Employment
46.2% 25+ BA or Higher
66.5%
Population Growth BA or Higher since 2010
34.6%
Millennial Population Share
2.9%
Annual Average Population Growth Rate
No matter how you think about it, downtown Austin’s location cannot be beat. Downtown Austin is in the center of one of
has grown by 269,023 in 10 years, one of
the fastest-growing metros in the country,
the fastest rates in the country. Austin’s
is between three of the largest cities in
growing talent pool has drawn major tech
the country and is only 11.3 miles from
companies like Meta, Google, TikTok, and
an expanding international airport. Lady
Indeed to downtown. Tech companies
Bird Lake and the string of quality parks
occupy significant downtown office lease
along its banks serve as downtown’s
space, giving them a competitive edge in
backyard. Downtown is recovering from
attracting and retaining this talent.
the impacts of the COVID-19 pandemic due to its central location that enables
Located between the University of Texas at
downtowners to access everything.
Austin, the bustling East Side, the historic South Congress (SoCo), and Zilker Park,
Downtown employers draw talent from the entire Central Texas region, where half of downtown’s 106K+ employees live outside the city limits. Downtown’s location underpins Austin’s ability to attract and retain a highly educated workforce. The number of people with a bachelor’s degree or higher
Source: CBRE Tech Talent Report 2021
downtown has experienced exponential growth in the hospitality industry as people choosing to visit these places often stay in downtown hotels. The unparalleled quality of life and easy access to all of Austin has drawn in thousands of new residents downtown. Since 2010, the downtown residential population has grown by 79%.
STATE OF DOWNTOWN AUSTIN 2022
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Downtown employers benefit from the region’s well-educated, large, fast-growing and talented labor force. PERCENT AGE 25+ WITH A BACHELOR’S DEGREE OR HIGHER & PERCENT CHANGE 2010 TO 2020 Population 25 years and over with bachelor’s degree or higher
Percent change 2010 to 2020
70% 60% 50% 40% 30% 20% 10% 0
Austin MSA
Dallas / Fort Worth MSA
Houston MSA
San Antonio MSA
Source: 2020 American Community Survey 5 Year Note: MSA = Metro Statistical Area
TOTAL POPULATION AGE 25+ WITH A BACHELOR’S DEGREE OR HIGHER IN THE AUSTIN REGION 700K 600K 500K 400K 300K 200K 100K 0
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
Source: American Community Survey
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DOWNTOWN AUSTIN ALLIANCE
STATE OF DOWNTOWN AUSTIN 2022
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DOWNTOWN ECONOMIC INDICATORS
LINCOLN PROPERTY COMPANY / KAIROI
Although we still feel the effects of the COVID-19 pandemic, downtown’s economy remains strong. Continued losses felt from closed businesses, canceled concerts, and empty office towers may be concerning; however, the strength of downtown is largely unshaken. The city’s center continues to grow and build upon decades of investment, planning, and preservation. Downtown presses forward, leading the way in many economic indicators locally and nationally, demonstrating qualities of resiliency, innovation and optimism. Downtown’s vitality radiates outward, nodding towards regional investment. Over the past few years, several significant investments have made headway in the Austin area, such as Project Connect’s public transit system, I-35 Capital Express Central’s
construction of interstate highway improvements, Apple’s 133-acre campus expansion, Tesla’s billion-dollar gigafactory installation, and Samsung’s $17B chip plant site selection. As the densest concentration of employment for Austin’s young creative class, downtown serves as a magnet for talent, continuing the demand for office, hotel, residential, and retail space. Downtown remains energized with development from both public and private entities, laying the groundwork for the next 100 years.
Downtown’s vitality radiates outward, nodding toward regional investment.
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DOWNTOWN AUSTIN ALLIANCE
OFFICE MARKET & EMPLOYMENT MARKET STATS (2021 Q4)
14.8% Vacancy
$56.11
Asking Rent per SF
19,531,123 Total SF
2,161,727
SF Under Construction Source: CoStar
Leasing activity returns to prepandemic levels as downtown leads the nation in sublease space absorbed. The downtown office market is
competitive employment market.
moving toward recovery after being
Google’s new 796,000 square foot
hit hard at the onset of the COVID-19
tower heads toward completion. Meta
pandemic. Demand for high-quality
has leased the entire 589,000 square
downtown office space returned in
foot office component of Sixth and
2021 as the Austin region ended the
Guadalupe. TikTok recently leased
year with a rapidly growing economy
126,000 square feet of 300 Colorado,
and the lowest unemployment rate
and Snap Inc. has leased 38,000
in the state at 2.9%. Total leasing
square feet in 405 Colorado. Office
activity downtown has surpassed its
developers remain optimistic about
2017-2019 average as 2.5M square
downtown’s recovery since market
feet were either renewed or leased in
rents remained stable throughout the
2021. A rapid surge in sublease space
pandemic, and nearly 2 million square
available early in the pandemic began
feet of office space were delivered
to recede as 732K sq. ft. of sublease
between 2020 and 2021. There are
space was absorbed downtown in
currently 11 office projects under
2021—more than any other submarket
construction downtown totaling more
in the nation.
than 3.3 million square feet. Twelve additional office projects have been
Major tech companies continue to
proposed or are in planning, which
see downtown as the place to hire
will add 6.2 million square feet.
and retain talent in such a highly
DOWNTOWN TOTAL LEASING ACTIVITY (by sq. ft.)
2.5M
2M
1.5M
1M
500K
0
2017-19 Average
2020
2021
Source: CoStar
STATE OF DOWNTOWN AUSTIN 2022
Net Absorption
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DOWNTOWN NET ABSORPTION AND DELIVERY (by sq. ft.) Net Delivery
In 2021, net absorption surpassed 675K SF while 1.7M SF of new construction was delivered.
1M 800K 600K 400K 200K 0 -200K -400K
2017 Q1 Q2
Q3
Q4
2018 Q1 Q2
Q3
Q4
2019 Q1 Q2
Q3
Q4
2020 Q1 Q2
Q3
Q4
2021 Q1 Q2
Q3
Q4
Source: CoStar
DOWNTOWN VACANCY RATE (by percent of total existing rentable vacant building space) Downtown
Vacancy has stabilized as leasing activity has recovered to prepandemic levels.
Austin
16% 14% 12% 10% 8% 6% 4% 2% 0%
2017 Q1 Q2
Q3
Q4
2018 Q1 Q2
Q3
Q4
2019 Q1 Q2
Q3
Q4
2020 Q1 Q2
Q3
Q4
2021 Q1 Q2
Q3
Q4
Source: CoStar
TOP 5 SUBMARKETS BY CHANGE IN TOTAL SUBLEASE SF IN 2021 (by sq. ft.) Downtown absorbed more sublease space in 2021 than any other submarket.
Downtown Austin Boston Financial District Santa Monica NYC World Trade Center San Francisco Financial District 600,000
400,000
200,000
0 Source: CoStar
WHO WORKS DOWNTOWN?
AGE
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DOWNTOWN AUSTIN ALLIANCE
29 or younger (21.3%)
After declining for four consecutive
growth across industries remains
quarters, downtown employment
uneven. Historically, employment
is back on an upward trajectory,
in downtown Austin has been
recovering the total number of jobs
largely concentrated in public
lost in 2020 in just two quarters.
administration or government
Most of this growth in employment
employment. More recently, as the
was driven by professional,
downtown office market continues
scientific, and technical service jobs,
to grow at a breakneck pace, the
which added a total of 1,937 jobs.
makeup of downtown employment
Unfortunately, accommodation
is shifting toward private-sector
and food service employment,
office employment. Since 2010,
or positions within hotels and
professional, scientific, and technical
restaurants, are still down by 3,095.
service employment has increased
Male (49.7%)
Female (50.3%)
ETHNICITY
Total downtown employment has recovered, although unevenly across all downtown industries.
55 or older (19.3%)
GENDER
30 to 54 (59.4%)
91% and information employment The makeup of total employment
has increased 209%.
Non-Hispanic or Latino (76.5%)
downtown continues to change as
RACE
Hispanic or Latino (23.5%)
White (80.4%) Asian (6.4%) Other (0.8%)
Black (9.8%) 2 or more races (2.6%)
Source: U.S. Census Bureau, Center for Economic Studies, LEHD
STATE OF DOWNTOWN AUSTIN 2022
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TOTAL DOWNTOWN EMPLOYMENT Total Downtown Employment
Total downtown employment recovered quickly in 2021 to its prepandemic levels.
108M 106K 104K 102K 100K 98K 96K 94K
2017 Q1 Q2
Q3
Q4
2018 Q1 Q2
Q3
Q4
2019 Q1 Q2
Q3
Q4
2020 Q1 Q2
Q3
Q4
2021 Q1 Q2
Q3
Source: JobsEQ
TOTAL DOWNTOWN ACCOMMODATION & FOOD SERVICE EMPLOYMENT Total Downtown Accommodation & Food Service Employment
Accommodation and food service employment has recovered only 29% of jobs lost.
14K 13K 12K 11K 10K 9K 8K
2017 Q1 Q2
Q3
Q4
2018 Q1 Q2
Q3
Q4
2019 Q1 Q2
Q3
Q4
2020 Q1 Q2
Q3
Q4
2021 Q1 Q2
Q3
Source: JobsEQ
TOP 5 DOWNTOWN INDUSTRIES BY TOTAL EMPLOYMENT EMPLOYMENT (2020 Q3)
2019 Q4 TO 2021 Q3
% CHANGE
Public Administration
31,316
881
3%
Professional, Scientific & Technical Services
21,752
1,937
10%
Accommodation & Food Services
9,809
-3,095
-24%
Information
7,522
670
10%
Health Care & Social Assistance
6,166
78
1%
INDUSTRY
Source: JobsEQ
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DOWNTOWN AUSTIN ALLIANCE
RETURN TO OFFICE Downtown Austin’s daily office use has reached up to 62% of its pre-pandemic levels.
Downtown offices are starting to feel like usual again.
As communities across the country recover from the impact of the COVID-19 pandemic, return to office is ’top-of-mind’ for many downtowns. Urban centers rely on a daily workforce to support local coffee shops, banks, retailers, and restaurants;
Conversely, downtown’s foot traffic during evenings and weekends
downtown Austin is no exception. Many
consistently climbed, signaling that
downtown employees continued to
downtown continued to draw people
work remotely throughout the year as
in for activities and events outside of
employers paused or reevaluated their
traditional business hours. As vaccination
return to office plans. Downtown daily
rates improved and local public health
office activity consistently lagged in the Austin area throughout the year, indicating that much of downtown’s workforce
trends cycled up and down throughout the year, downtown offices moved toward pre-pandemic occupancies.
continued to work from home.
AVERAGE PEDESTRIAN COUNTS AT 600 BLOCK OF CONGRESS AVENUE Total Daily Weekday Count (Monday – Thursday)
April 2019 to February 2020 Weekday Average
12K 10K 8K 6K 4K 2K 0
2019 Feb
Apr
Jun
Aug
Oct
Dec
2020 Feb
Apr
Jun
Aug
Oct
Dec
2021 Feb
Apr
Jun
Aug
Oct
Dec
Source: EcoCounter
STATE OF DOWNTOWN AUSTIN 2022
Austin
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PERCENT CHANGE IN DAILY ACTIVE USERS OF OFFICE SPACE (indexed to pre-pandemic levels) Downtown Austin
% change Austin
% change Downtown Austin
20%
9%
0
-9%
-20%
-27%
-40%
-45%
-60%
-63%
-80%
-81%
-100%
2020 Mar
May
Source: Brivo Systems LLC
Jul
Sep
Nov
2021 Jan
May
Mar
Jul
Sep
-99%
2022 Jan
Nov
Mar
Note: Brivo data, gathered from +20 million people across more than 50,000 locations, tracks access to offices, schools, multi-family dwellings, retail establishments, warehouses, government offices, houses of worship, and commercial properties.
Transportation Behavior Survey
In March 2021, Movability, the region’s first and only transportation management association, and Texas State University conducted a transportation behavior survey to better understand personal travel behaviors and motivations for traveling during the pandemic. Hearing from more than 1,500 people, respondents that were not required to travel to their physical worksite balanced the risk and reward of leaving their homes during the pandemic. Respondents gave thoughtful consideration to when and if they needed to leave their homes.
FREQUENCY OF TRAVELS TO PHYSICAL WORKSITE Daily
5 Times/Week
Before Pandemic
Weekly
Monthly
29%
During Pandemic
11% 0%
10%
Rarely/Never
57% 21% 20%
24% 30%
40%
7%
8% 50%
60%
36% 70%
80%
90%
100%
PLACES TRAVELED BY GOVERNMENT EMPLOYEES DURING PANDEMIC 37% went to a bar or restaurant by choice
41% visited family or friends for positive mental health reasons
60% were required to commute to work
Source: Transportation Behavior Survey, Movability, 2021
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DOWNTOWN AUSTIN ALLIANCE
HOUSING MARKET & RESIDENTS MARKET STATS (2021 Q4)
9.2%
Vacancy
$3.34
Asking Rent per SF
4,276
Total Condo Units
5,843
Total Multi-Family Units Source: CoStar
Downtown asking rent rose 14% in 2021 as demand for downtown living booms. Living downtown means you have access to everything you love about Austin right outside your front door. The strength of the downtown residential market reflects that premium as the demand for downtown apartments and condominiums continued to grow even as the pandemic had some questioning the attractiveness of urban living. While downtown asking rents for apartments fell at the onset of the pandemic, they have recovered stronger than ever as people continue to flock to downtown for the quality of life it provides. Overall vacancy downtown rose in 2021 as the completion of The Quincy and Alexan Waterloo delivered 621 new units. Downtown’s stabilized vacancy, which does not include recently completed projects, is sitting at a healthy 4.4%.
Two massive apartment projects in the Rainey Street Historic District highlight the surge of demand for downtown living. This surge in demand is a positive sign indicating a strong market recovery as the development of more downtown housing units continues uninterrupted. Perhaps no district exemplifies this better than the Rainey Street Historic District. Here, three residential projects are under construction, and another seven have been proposed or are in planning. One project, 80 Rainey, is proposing 644 units, the most of any downtown building.
STATE OF DOWNTOWN AUSTIN 2022
Net Absorption
21
APARTMENT NET ABSORPTION AND NET DELIVERIES Net Delivery
500 400 300 200 100 0 -100
2022 2017 2018 2019 2020 2021 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Source: CoStar
2,976 apartments and 735 condos are under construction. Another 2,992 and 860 are proposed or in planning.
DOWNTOWN DAILY ASKING RENT (per sq. ft.) Daily Asking Rent $3.50 $3.40 $3.30 $3.20 $3.10 $3.00 $2.90 $2.80 $2.70 $2.60
2017 Q1 Q2
Q3
Q4
2018 Q1 Q2
Q3
Q4
2019 Q1 Q2
Q3
Q4
2020 Q1 Q2
Q3
Q4
2021 Q1 Q2
Q3
Q4
Source: CoStar
LINCOLN VENTURES / PAPPAGEORGE HAYMES
DOWNTOWN OVERALL AND STABILIZED VACANCY Overall Vacancy
Stabilized Vacancy
12% 10% 8% 6% 4% 2% 0%
2017 Q1 Q2
Q3
Q4
2018 Q1 Q2
Q3
Q4
2019 Q1 Q2
Q3
Q4
2020 Q1 Q2
Q3
Q4
2021 Q1 Q2
Q3
Q4
Source: CoStar
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DOWNTOWN AUSTIN ALLIANCE
The unmatched quality of life and ample opportunity within the region have made downtown Austin one of the fastest growing urban neighborhoods in the city.
DOWNTOWN FOR SALE HOUSING: ACTIVE LISTINGS & MONTHS OF INVENTORY (by quarter) Months of Inventory
Active Listings
Months of Inventory
Active Listings
12
250
10
200
8
150
6 100
4
50
2 0
2018 Q1
Q2
Q3
2019 Q1
Q4
Q2
Q3
Q4
2020 Q1
Q2
Q3
Q4
2021 Q1
0 Q2
Q3
Q4 Source: ABOR
DOWNTOWN FOR SALE HOUSING: AVERAGE CLOSING PRICE (by sq. ft.) $800 $750 $700 $650 $600 $550 $500
2018 Q1
Q2
Q3
Q4
2019 Q1
Q2
Q3
Q4
2020 Q1
Q2
Q3
Q4
2021 Q1
Q2
Q3
Q4
Source: ABOR
STATE OF DOWNTOWN AUSTIN 2022
According to the 2020 Census, all racial-ethnic population groups downtown experienced growth in the last decade, but the overall composition of the downtown population is largely unchanged.
Downtown Austin’s residential population doubled in the last 10 years, according to the 2020 Census. As
Residents aged 25 to 34 continue to represent the
Austin approaches the 1-million resident population
largest share of the downtown population as many
mark, residents continue to flock to the city’s center.
continue to seek the several quality-of-life attributes
New construction continued to supply the influx of
that Austin offers. Sixty-nine percent of downtown’s
demand for urban living.
population is non-Hispanic white and 28% have a household income of $200,000 or more. As one of the
Downtown Austin led the charge in delivering just
hottest Austin residential markets, downtown continues
under 4,000 residential units to the Austin-area
to evolve as it serves Austin’s diverse population.
housing market – more than any other area its size.
SHARE OF POPULATION CHANGE 2010–2020 6%
1%
1%
4%
RESIDENT STATS
4%
(2021 Q4)
2%
38%
0%
Ages 25-34
-2% -4% -6%
-1%
-4%
-1%
Hispanic
White
Black
Asian
Other
2 or more races Source: US Census 2020
TOTAL HOUSING UNITS AND RESIDENTS DOWNTOWN 1990–2020 Housing Units
20,000
948
Residents
4,222
2,331
4,176
5,670
7,635
9,447
13,648
16,000 12,000 8,000 4,000 0
1990
2000
2010
2020 Source: US Census 2020
28%
Household income $200K or more
At least 4,000 residential units were added to the downtown area in the last decade, more than any other area its size in the city. The Downtown Austin Alliance considers the U.S. 2020 Census to be very conservative. Previous reports published reflected an internal staff estimate using total units delivered, average occupancy rates, and average household size.
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2020 CENSUS: RECAPPING DOWNTOWN’S RESIDENTIAL BOOM
24
DOWNTOWN AUSTIN ALLIANCE
RETAIL & SMALL BUSINESSES Downtown’s vibrant storefront businesses
Average weekday pedestrian counts along
provide retail space for a diverse and growing
Congress Avenue fell 83% month over month in
base of residents, office employees, and
April 2020 as in-office work, conventions, and
visitors from near and far. The pandemic and
business travel ground to a halt, leaving only
stay-at-home public health orders diminished
residents to frequent the streets.
the consumer base that many downtown small As COVID cases descreased, businesses
businesses rely on.
Downtown businesses are capitalizing on the rebound in consumer demand. 60 new businesses have opened since the pandemic began.
reopened in full swing, as leisure travel resumed quickly. All three sources of demand show signs of recovery in 2022, growing well beyond their 2019 levels. As of February 7, 2022, 60 new businesses have opened downtown since the pandemic began.
NEW STOREFRONT BUSINESSES (by primary category)
STOREFRONT SPACE STATUS (prior to new business)
35
35
30
30
25
25
20
20
15 10
19
4 Food Places
24
10
5 0
31
15
29
Drinks & Entertainment
Retail Goods
8 Retail Services
Source: Downtown Austin Alliance
5 5 0
New Construction
Permanently Closed
Vacant Space
Source: Downtown Austin Alliance
STATE OF DOWNTOWN AUSTIN 2022
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In October 2021, the average daily pedestrian count along the eastern 600 block of Congress Avenue was 76% of its 2019 value. AVERAGE DAILY PEDESTRIAN COUNT AT 609 CONGRESS AVENUE (by month) Average Daily Count
Average Pre-Pandemic
12K
10K
8K
6K
4K
2K
0
2019 Apr
Jun
Aug
Oct
Dec
2020 Feb
Apr
Jun
Aug
Oct
Dec
2021 Feb
Apr
Jun
Aug
Oct
Dec
2022 Feb
Source: EcoCounter
BUSINESS OPERATING STATUS Operating
New Business
Temporarily Closed
100% 90%
11% 25%
80% 70% 60%
12% 15%
Permanently Closed
Status Unknown
6%
6%
12%
11%
6% 5%
23%
50% 77%
40% 30% 20%
63%
72%
49%
10% 0
July 6, 2020
February 7, 2021
September 5, 2021
February 7, 2022 Source: Downtown Austin Alliance
26
DOWNTOWN AUSTIN ALLIANCE
NIGHTLIFE ECONOMY Downtown’s vibrant nightlife economy began to recover in 2021 as major events and leisure travel returned. At night, downtown Austin transforms
bars, while Red River Cultural District
into a lively atmosphere full of revelry
contains iconic must-visit music
that few cities can boast. Hundreds
venues like Stubb’s and Mohawk.
of bars, restaurants, food trucks and
East 6th Street, Austin’s original
dozens of live music venues open their
entertainment district, contains
doors, making Austin the Live Music
dozens of bars, nightlife venues and
Capital of the World.
iconic businesses such as Esther’s
While pedestrian overall consumer activity has returned, the live music economy continues to suffer. Four bustling entertainment districts anchor this energizing atmosphere: The Rainey Street District, Red River Cultural District, East 6th Street District and West 6th Street District. Rainey Street District offers unique outdoor bungalow
Follies and Camino El Casino. As far as West 6th Street District, it's best described as a mash-up of the other three. Live music venues have adapted tirelessly throughout the past two years. Now, we can see downtown’s nightlife economy begin to recover as Austin’s domestic leisure travel returns to pre-pandemic levels. While pedestrian foot traffic has begun to return to these four districts, the live music economy continues to suffer as ticket sales and attendance at shows remain depressed.
STATE OF DOWNTOWN AUSTIN 2022
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TOTAL TAXABLE ALCOHOL RECEIPTS BY ENTERTAINMENT DISTRICT (indexed to 100 = 2017-2019 average) Rainey St.
West 6th
East 6th
Red River
200 160 120 80 40 0
2020 JAN
MAR
MAY
JUL
SEP
NOV
2021 JAN
MAR
MAY
JUL
SEP
NOV
Source: State of Texas Comptroller
TOTAL VISITS BY ENTERTAINMENT DISTRICT (indexed to 100 = 2017-2019 average) Rainey St.
West 6th
East 6th
Red River
200 160 120 80 40 0
2020 JAN
MAR
MAY
JUL
SEP
NOV
2021 JAN
MAR
MAY
JUL
SEP
NOV Source: Placer.ai
BUSINESS OPERATING STATUS Operating 100% 80%
New Business 5%
Temporarily Closed
Unknown
5%
11%
15%
9%
73%
76%
78%
East 6th
West 6th
Rainey St.
18% 5%
Permanently Closed 10% 6% 13%
60% 40%
71%
20% 0%
Red River Source: Downtown Austin Alliance
28
DOWNTOWN AUSTIN ALLIANCE
HOTELS & TOURISM
Downtown hotel room occupancy and other key economic indicators show strong signs of recovery. The hotel market suffered significant
need to convert the building into
losses in the early months of the
an alternative care site for COVID-19
pandemic, but in recent months
patients dissipated. In light of this
there have been positive signs that
limited convention activity, weekday
a full recovery is on the way.
hotel occupancy only reached 59.6% in 2021 Q4 compared to 2019
People from near and far seek
Q4 at 72.9%.
downtown’s abundant array of amenities, such as an afternoon stroll along the lakefront trail or a nightlife filled with live music and great eats. Weekends downtown were bustling with leisure travel as downtown weekend hotel occupancy for 2021 Q4 was 76.5%, somewhat similar to 2019 Q4 of 77.7%. Unfortunately, convention business travel, which makes up a large share of weekday room demand, remained low in 2021. After a rocky start to 2021, the second half of the year saw the convention center successfully host 28 events since the
The average daily room rate downtown spiked in October 2021 as several major events created strong demand for rooms over the busy weekends.
STATE OF DOWNTOWN AUSTIN 2022
29
DOWNTOWN HOTEL OCCUPANCY RATE Downtown
Austin
100% 80% 60% 40% 20% 0%
2017 2018 2019 2020 2021 2022 Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Source: CoStar
DOWNTOWN HOTEL AVERAGE DAILY ROOM RATE Downtown
Austin
$300 $250 $200 $150 $100 $50 $0
2018 2019 2020 2021 2022 2017 Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Source: CoStar
DOWNTOWN HOTEL REVENUE PER AVAILABLE ROOM Downtown
Austin
$300 $250 $200 $150 $100
JTYPE
$50 $0
2018 2019 2020 2021 2022 2017 Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Source: CoStar, STR
30
DOWNTOWN AUSTIN ALLIANCE
October 2021 saw a major boost in tourism activity, reflecting previous Octobers downtown, an important month for downtown hotels.
people from all over the world to downtown Austin.
October 2021 looked similar to pre-pandemic Octobers.
M, Hyatt Centric, and Cambria are set to deliver 795
Austin Film Festival occur. Spring break and the return of SXSW increased travel downtown in March 2022. Conventions and business travel are expected to resume in 2022. This rebound in major events and leisure tourism underpins the development of several new hotel developments downtown and across the region. Upscale hotel brands like Citizen hotel rooms soon.
JTYPE
Major international events in March and October bring
October 2021 saw Austin City Limits, Formula 1 and the
TOTAL MONTHLY VISITS BY ENTERTAINMENT DISTRICT October 2019
AUSTIN’S TOP 2021 INTERNATIONAL EVENTS
October 2021
400K 300K
AUSTIN FILM FESTIVAL October 1-10
200K
ACL FESTIVAL October 21-28
100K 0
Rainey St.
West 6th
East 6th
Red River Source: Placer.ai
FORMULA 1 October 24
STATE OF DOWNTOWN AUSTIN 2022
31
TOTAL MONTHLY PASSENGERS AT AUSTIN-BERGSTROM INTERNATIONAL AIRPORT 2019
2020
Total passenger numbers have reached prepandemic levels.
2021
1.8M 1.6M 1.4M 1.2M 1M 800K 600K 400K 200K 0
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Source: ABIA Activity Reports
TOTAL MONTHLY VISITS DOWNTOWN Total Visits
Total monthly visits have almost reached prepandemic levels.
4M 3.5M 3M 2.5M 2M 1.5M 1M 500K 0
2017 2018 2019 2020 2021 2022 Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Source: Placer.ai
TOTAL DAILY VISITS DOWNTOWN IN OCTOBER Comparable 2019
October 2021
Last year, total visits in October mirrored 2019 levels.
180K 160K 140K 120K 100K 80K 60K
1st 1st Weekend Week
2nd 2nd Weekend Week
3rd 3rd Weekend Week
4th 4th Weekend Week
5th Weekend Source: Placer.ai
32
DOWNTOWN AUSTIN ALLIANCE
3.6M Austin MSA Population by 2040 (Texas Demographic Center, 2018 Projections)
1ST
11TH
among the top 50 largest metros for new residents
largest city in the United States
(Austin Chamber of Commerce, 2022)
(US Census, 2020)
STATE OF DOWNTOWN AUSTIN 2022
33
BUILDING FOR THE FUTURE
ATELIER WONG PHOTOGRAPHY
Downtown is amid the development of a once-in-a-lifetime set of infrastructure investments that will forever impact central Texas. By 2040, the Austin regional population is expected to grow to 3.6 million, a 57% increase from its current population. Natural increases and domestic and international migration add an estimated 180 people per day to the greater Austin area. This rapid growth and population increase make transformative projects such as Project Connect and TXDOT’s I-35 Capital Express Central reconstruction critical to the future of downtown and surrounding regions.
The future state of downtown is largely dependent on our ability to accommodate Austin’s continued growth.
As the nation’s 11th largest city and largest metro for new residents as a percentage of the total population, Austin is ushering in a new wave of investment that will shape this community for decades to come. While downtowns across the country continue to recover from the effects of COVID-19, Austin has shown impressive signs of growth and continued momentum, often outpacing its peer cities. The future state of downtown is dependent on our ability to capitalize on the continued demand and major investments on the near horizon to accommodate Austin’s continued growth. Downtown is faced with a unique opportunity and responsibility to our community to champion a new era built for everyone.
34
DOWNTOWN AUSTIN ALLIANCE
DEVELOPMENT PIPELINE Downtown’s development pipeline continues to expand as more projects are proposed and break ground. The downtown development
Residences and 80 Rainey, will bring
pipeline reflects Austin’s strong
over 1,000 residential units to the
economic recovery and overall
area combined. Nine office projects
upward trajectory. Over the past
proposed or under construction
two years, proposed projects
are larger in gross square feet than
have been taller and bigger than
the signature Frost Bank Tower’s
in previous years. Even as the
548,254. The demand to live or work
future tallest building in Texas,
downtown has pushed the size and
Sixth and Guadalupe, continues
scale of real estate developments
to rise, 98 Red River prepares to
to new heights.
break ground and become the tallest building in the state once completed. The new 98 Red River building will tower over the skyline at 1,000+ feet; located along the Waterloo Greenway, 98 Red River will contain 241 hotel rooms, 352 apartment units, and 749,415 gross square feet of office space. Two other developments in the Rainey Street district, River Street
11 office projects are currently under construction, and 11 more have been proposed or are in planning.
STATE OF DOWNTOWN AUSTIN 2022
35
DOWNTOWN HOTEL DEVELOPMENT PIPELINE (by number of hotel rooms) Waterloo Park Tower
Conrad Residences & Hotel
305 S. Congress
98 Red River
80 Red River Phase II
CitizenM
The Avenue Hyatt Centric Congress
305 S. Congress 80 Rainey Health South Redevelopment 80 Red River Phase I River Street Residences
200
The Modern Austin Residences 98 Red River 701 W 6th Annie B Stonelake 5RR Ikon Austin 80 Red River Phase II Conrad Residences & Hotel Shoal Cycle 1108 Nueces The Waller The Avenir 321 W. 6th Sixth and Guadalupe 415 Colorado Hanover Republic Square 44 East Hanover at 3rd & Brazos
305 S. Congress
97 Red River
The Republic
Perenial
Block 16
98 Red River
400 W. 14th
410 Uptown
1215 Red River
Zilker Point
502 W. 15th
Block 185
State Office Building
6th & Guadalupe
State Office Building
Innovation Tower
The Waller
Horizon Bank Tower
312 W. 6th
415 Colorado
TBA Building
Waterloo Central
RiverSouth
Whole Foods Building
Indeed Tower
300 Colorado
Proposed / In Planning
Under Construction
2022
Proposed / In Planning Under Construction 2022
Vesper 827 W 12th The Linden The Loren at Lady Bird Lake
1836 San Jacinto
405 Colorado
701 Rio Grande
600K
Cambria Hotel
100
Sienna at the Thompson
400
Fairfield Inn & Suites
200
3Waller
1M
2021
0
The Quincy
800K
1204 San Antonio
1.2M
Alexan Capitol
1.4M
Nativo
600
1155 Barton Springs
800
2021 0
The Quincy
1,000
Alexan Capitol
1,200
The Loren at Lady Bird Lake
300
Proposed / In Planning Under Construction 0
The Thompson
Hilton Garden Inn
400
2022 2021
Downtown is poised to add 1,015 hotel rooms in the coming years, or 7.5% of current inventory. 500
Source: Downtown Austin Alliance
DOWNTOWN MULTI-FAMILY & CONDO DEVELOPMENT PIPELINE (by number of units) 1,400
Source: Downtown Austin Alliance
DOWNTOWN OFFICE DEVELOPMENT PIPELINE (by sq. ft.)
1.6M
400K
200K
Source: Downtown Austin Alliance
36
DOWNTOWN AUSTIN ALLIANCE
The downtown development pipeline is
DEVELOPMENT OVERVIEW
picking up both in pace and scale. Prior to the pandemic, downtown real estate development expanded across all product types. Over 5.8 million gross square feet have been delivered since January 1, 2020, adding over 2 million square feet of office space, 2 million square feet of residential space across 1,601 residential units, and 1 million square feet of hotel space across 1,967 hotel rooms.
ake
Lad
dL r i B y
STATE OF DOWNTOWN AUSTIN 2022
37
Whole Food’s downtown footprint expanded during
Despite persistent supply-chain issues and
the pandemic with the construction and completion
construction labor shortages, construction
of their new 143,000 square foot office building
downtown continues. 16 projects have broken
adjacent to their current space. The 730,000 square
ground, totaling 4 million gross square feet. There
foot Indeed Tower was delivered in 2021 and sold
are currently 25 projects under construction,
to Kilroy Realty for $580 million, further validating
totaling over 8 million gross square feet, as this
downtown’s value from asset owners’ and operators’
period of expansion continues.
perspectives. Marriott delivered a new hotel on Cesar Chavez with 613 rooms, making it downtown’s fourth hotel with over 500 rooms.
Buildings Completed 2021–2022
Buildings Under Construction
Buildings In Planning
38
DOWNTOWN AUSTIN ALLIANCE
INVESTMENTS SHAPING DOWNTOWN’S FUTURE
Project Connect, Austin’s largest and most ambitious comprehensive transit plan yet, is en route to implementation and will bring a transformative light rail system to Austin that will connect downtown to much of the city. The Blue Line will provide a much-needed downtown connection to the Austin-Bergstrom International Airport, and the Orange Line will connect north and south Austin with downtown at its center.
GOVERNMENT CENTER / CAPITOL WEST STATION
CONGRESS AVENUE RECONSTRUCTION
PROJECT CONNECT
REPUBLIC SQUARE STATION
CYPRESS & SHOAL PUBLIC SPACE IMPROVEMENTS
e
Lady
Project Connect Light Rail
Lak d r i B
Project Connect Bus Rapid Transit
STATE OF DOWNTOWN AUSTIN 2022
39
These major investments will culminate in two new
safety, address congestion, and increase access. As
underground stations that will support the existing
downtown Austin continues to grow, improvements
downtown/convention center station, creating a
around mobility and safety will be necessary to
mobility corridor crossing on Congress Avenue between
support the increased number of people that go to
the Austin Convention Center and Republic Square.
and through downtown daily. This investment will also maintain and strengthen connectivity between
TxDOT’s I-35 Capital Express Central $4.9 billion project
downtown and East Austin through caps and stitches
will change how I-35 runs through central Austin and
co-created with community input.
how it connects downtown to the greater region. Improvements to the corridor are essential to enhance
WATERLOO GREENWAY I-35 CAPITAL EXPRESS CENTRAL
POTENTIAL CAP & STITCH LOCAL ENHANCEMENTS CONVENTION CENTER EXPANSION
CONVENTION CENTER / BRUSH SQUARE STATION CONGRESS AVENUE STATION MACC/RAINEY STATION
WATERFRONT STATION
AUDITORIUM STATION
Project Connect Stations
Potential Cap Enhancements
Buildings Under Construction
Designs featured are for illustrative purposes and are subject to change.
40
DOWNTOWN AUSTIN ALLIANCE
URBAN GREENBELT Downtown Austin boasts an unparalleled amount of high-quality green space, and the quantity of this
Congress Avenue Reconstruction / The Congress Avenue Urban Design Initiative, a multi-million
green space is set to grow significantly. Projects and
dollar investment to redevelop the “Main Street
investments underway will enhance that experience
of Texas” between 4th Avenue and Riverside, will
and bring more pedestrians, bikers, and outdoor
begin phase 1 construction soon. Once completed,
enthusiasts downtown.
this essential street through downtown will have wider and shadier sidewalks, permanent bike lanes,
Cypress & Shoal Public Space Improvements /
Planned public improvements around 3rd Street
and significant improvements along the Congress Avenue Bridge.
and Shoal Creek will improve access, connectivity, and safety for pedestrians and bikers. This heavily trafficked area is an important connection point
I-35 Cap & Stitch Local Enhancements / I-35’s
reconstruction provides us an opportunity to build
between Shoal Creek, downtown, and the Butler
caps that could feature flourishing green spaces and
Trail system along Lady Bird Lake.
stitches that could include widened sidewalks and bikeways across the lowered highway. The next phase
Waller Creek and the Creek Delta / Waterloo
of this project will include preliminary engineering
Greenway’s next phase to revitalize Waller Creek is
and community co-creation of the cap structures
set to begin construction this year. The Creek Delta
and the surface amenities that communities along
project will provide elevated walkways and bridges,
I-35 will benefit from.
improving connections to Rainey Street District and the health of the creek’s diverse ecosystem. Project Connect’s 4th Street Corridor /
South Central Waterfront Parkland
Improvements / The new signature waterfront park
will provide additional open greenspace, recreational
A redesigned and rebuilt 4th Street Corridor will
activities, and a bat observation plaza. The park will
provide several amenities for pedestrians and
connect people to the trail network along Lady Bird
bicyclists as part of Project Connect’s construction
Lake and is a critical component of downtown’s
of downtown’s new transit stations. The corridor will
Urban Greenbelt.
improve the west-east connection from Republic Square to Brush Square.
Seaholm Intake Improvements / The last portion of the old Seaholm Power Plant’s water intake facility is
Texas Capitol Complex Development / The first
actively under construction and will bring additional
phase of the Capitol Complex Plan will complete
community space and waterfront access directly
this year. The plan reimagines the Capitol Complex
from downtown.
as a destination that celebrates the Capitol and centralizes all state agencies.
TEXAS CAPITOL COMPLEX DEVELOPMENT
POTENTIAL I-35 CAP & STITCH LOCAL ENHANCEMENTS CYPRESS & SHOAL PUBLIC SPACE IMPROVEMENTS CONGRESS AVENUE RECONSTRUCTION SEAHOLM INTAKE
PROJECT CONNECT 4TH STREET CORRIDOR
WATERLOO GREENWAY
SOUTH CENTRAL WATERFRONT PARKLAND IMPROVEMENTS
42
DOWNTOWN AUSTIN ALLIANCE
COMMUNITY SURVEY The Downtown Austin Alliance contracted with research firm ETC Institute to administer a citywide community survey to learn more about how Austin residents feel about their downtown. The survey used statistically valid methodologies to randomly sample households in Austin. An overwhelming number of respondents, 79%, ’strongly agree’ or ’agree’ that a thriving and vibrant downtown is essential to Austin’s success. Similarly, 74% of respondents rated downtown as an ’excellent’ or ’good’ place for live music but gave poorer ratings to its affordability, safety during nighttime hours, and as a place to live. As a matter of priority, Austinites noted homelessness, traffic congestion, public safety, affordability and parking as top issues that should be addressed over the next two years downtown.
71% of Austinites visited downtown in the last year.
79% of Austinites agree that a thriving, vibrant downtown is essential to Austin’s success.
RESPONDENTS’ RATINGS FOR VARIOUS ASPECTS OF DOWNTOWN Excellent
Good
Neutral
Below Average
Poor
As a place for live music As a place to enjoy the arts As a safe place during daytime hours Availabililty of parks & outdoor areas to enjoy Condition of trails & creeks As a place to experience Austin’s unique history Condition of parks & public spaces As a place to be proud of Pleasure of walking around within downtown As a place to work Cleanliness of streets & sidewalks As a place to shop Availability of affordable places to go & things to do As a safe place during nighttime hours As a place to live
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
STATE OF DOWNTOWN AUSTIN 2022
43
Over 400 responses were collected, spanning 40 zip codes across the city. AGE
RACE OR ETHNIC BACKGROUND
18-24 years
3.2%
African American / Black
7%
25-34 years
16%
American Indian / Native American
.9%
35-44 years
18.5%
Asian Pacific Islander
7.2%
45-54 years
19.1%
Hispanic / Latino
31.8%
55-64 years
19.4%
Middle Eastern
65-74 years
14.2%
White
72.7%
75-84 years
4.3%
Other
1.4%
85+
1.1%
.7%
Age not provided
4.6%
SEX
FREQUENCY RESPONDENTS VISITED DOWNTOWN IN PAST 12 MONTHS Often (1-3 days per week)
11.1%
Male
49.2%
Frequently (4-6 days per week)
6.8%
Female
49.9%
Everyday (7 days per week)
1.8%
Never (have not visited downtown)
9.1%
Occasionally (1-3 times per month)
29.3%
Prefer to self-describe
.9%
RENTER/OWNER
Rarely (1-6 times per year)
Rent
41.4%
Own
58.6%
42%
Source: ETC Institute
TOP 5 DOWNTOWN ISSUES THAT ARE IMPORTANT TO AUSTINITES
homelessness
traffic congestion
public safety
affordability
parking
44
DOWNTOWN AUSTIN ALLIANCE
AUSTIN RANKED #1 LABOR MARKET IN 2021 Wall Street Journal
AUSTIN RANKED #4 REAL ESTATE MARKET TO WATCH IN 2022 ULI Emerging Trends Report
AUSTIN RANKS #2 BEST PERFORMING AMONG TOP 50 METROS U.S. Bureau of Labor Statistics, CES, 2021
AUSTIN RANKS #5 IN BEST PLACES TO LIVE IN 2021-2022 U.S. News & World Report, July 2021
44
STATE OF DOWNTOWN AUSTIN 2022
45
AUSTIN RISES TO #1 OFFICE MARKET FOR 2022 Marcus & Millichap, March 2022
AUSTIN RANKS #7 MOST DYNAMIC METROS IN 2021 Heartland Forward
AUSTIN IS THE #2 CITY WITH THE MOST OPPORTUNITY FOR JOB SEEKERS IN RANKING OF 182 U.S. METROS LinkedIn, January 2021
AUSTIN RANKS #2 AMONG BEST PERFORMING CITIES Wilken Institute, 2022
45
46
DOWNTOWN AUSTIN ALLIANCE
SPECIAL THANKS TO OUR SPONSORS
AECOM/AECOM Hunt / Asakura Robinson & Nelson/Nygaard / Clean Scapes / JE Dunn Construction Lionheart / McCann Adams Studio / Savills / Sherrariums Plantscaping Company / STG Design
STATE OF DOWNTOWN AUSTIN 2022
47
SPECIAL THANKS Meredith Reshoft Graphic Designer & Creative Director, The Killswitch Collective
Capital Printing, LLC Printer
Sharon Jayson Contributor
DOWNTOWN AUSTIN ALLIANCE TEAM Dewitt Peart President and CEO
Amalia Carmona Project Coordinator
Dulce Aguilar Director, People and Administration
Amy Chambless Administrative Assistant
Molly Alexander Executive Director, Downtown Austin Alliance Foundation Amanda Baez Administrative Coordinator Melissa Barry Vice President, Planning
Brandon Fahy Operations Manager Julie Fitch Chief Operating Officer Nick Haines General Manager, Downtown Ambassadors
Jenell Moffett Associate Vice President, Strategic Initiatives Angela Navarro Community Outreach Coordinator Vanessa Olson Director, Investor Relations Emily Risinger Planning and Urban Design Manager
Olivia Larson Executive Assistant
Gabriel Schumacher Economic Development Research Manager
Ashley Rose Marino Communication Manager
Mandi Thomas Senior Director, Marketing
Raasin McIntosh Parks and Placemaking Director
Michele Van Hyfte Vice President, Urban Design
Christine Cramer Director of Market Analysis and Research, Visit Austin
Beverly Kerr VP Research, Austin Chamber of Commerce
Charles Heimsath President, Capitol Market Research
John Rees Director of Research, EY
Sam Tenenbaum Director of Multifamily Insights, Cushman & Wakefield
Raven Birk Digital Content Writer Bill Brice Vice President, Investor Relations Samia Burns Controller
Marilyn Willson Development Director
RESEARCH TASK FORCE
Donald Jackson Business Process Consultant, City of Austin Mike Kennedy President, MK Interests
Ryan Robinson Special Projects, Austin Transit Partnership Margaret Shaw Economic Redevelopment Program Manager, City of Austin
Lila Valencia City Demographer, City of Austin Nirav Ved Data and Operations Manager, CAMPO
FRONT COVER PHOTO BY JTYPE
THE DOWNTOWN YOU WILL ALWAYS LOVE
DOWNTOWNAUSTIN.COM
