DEVELOPMENT OVERVIEW

DOWNTOWN DEVELOPMENT

THE RE-EMERGENCE SEEDS OPPORTUNITY

Over the last decade, the southwestern corner of downtown experienced a construction explosion. Its publicly owned master planned developments like Seaholm and Green Water produced new investment in mixed-use high-rise buildings, streetscapes and public spaces. Other notable projects included the award-winning Central Library and The Independent, which is Austin’s tallest building and the tallest residential tower west of the Mississippi. Meanwhile, in the southern and eastern portions of downtown, several additional projects are coming to the forefront. Now they are generating new density, new amenities and the promise of new, authentic districts and complete neighborhoods that will define downtown during the next decade.

A notable trend is emerging. The potential developments highlighted to the right in teal either have been announced, have plans on file with the city, or are under construction. They will rise above 420 feet and are known as super high-rise buildings. Downtown is already home to a handful of these towers, such as the Frost Bank Tower, the 360 Condominiums, the Austonian and The Independent. These tall buildings have reshaped Austin’s skyline, creating a new east-west orientation. And if the market allows, many more could be coming.

DEVELOPMENT PIPELINE

PIPELINE STATUS # OF PROJECTS RESIDENTIAL UNITS OFFICE SF HOTEL ROOMS

Recently Completed

Under Construction

Proposed & In Planning 3

28

32 3,691

3,724 5,136,691

5,590,686 1,099

960

2,195

The Independent

The Republic

Block 185 Hanover Republic Square BBVA Bank Tower

Indeed Tower

5th & Colorado

Block 16

92-98 Red River

Austin American-Statesman Site 80 Red River 90-92 Rainey

44 East River Street Residences

Waterloo Park Innovation District

Central Health Property Redevelopment

Health South Redevelopment

Plaza Saltillo

DOWNTOWN IS RESILIENT:

KEYS TO RECOVERY

Innovation District / Austin’s one-of-a-kind Innovation District has begun to take shape in downtown’s northeastern corner. Slated to bring in 2,800 new permanent jobs and $800 million in economic output, the Innovation District is well-positioned to be a hub of health innovation at the center of a diversified and regional economy.

Convention Center / In 2019, the Austin City Council approved a $12 billion plan to expand the Austin Convention Center. Added capacity will drive the continued growth of downtown’s tourism economy as well as business opportunities throughout Central Texas.

Plaza Saltillo / The recently completed 10-acre district has over 100,000 SF of retail, including stores Whole Foods and Target, while adding 800 apartments and 150,000 SF of office space to the edge of downtown.

The Moody Center / This multi-use arena is currently under construction on The University of Texas at Austin campus. The $338 million venue will be the home of Texas Men’s and Women’s Basketball and will host university, high school and community events as well as touring concerts and shows. Waterloo Park / Construction of the highly anticipated Waterloo Park is now complete. The park features 11 acres primed for concerts, performing arts shows, food trucks, field trips and more. It is part of the planned 1.5-mile Waterloo Greenway park system that will extend along Waller Creek from 15th Street to Lady Bird Lake.

Capitol Complex / Construction is underway on the Capitol Complex project, which will include two new state office buildings, the Texas Mall and a new utilities plant. The Texas Mall will centralize state agencies and serve as a northern gateway into downtown, with public green space for tourism, events and festivals.

Central Health Property Redevelopment / Demolition is underway on the remaining five blocks of redevelopment, creating a unique opportunity to both advance the Innovation District and provide our local community health care provider with mission-critical funds.

HealthSouth Redevelopment / The city is negotiating a redevelopment agreement that will result in a dense, mixed-use design that provides public amenities and community benefits.