Austin’s rapid growth is often easiest to recognize by looking at its changing skyline. And, amid the buildings, many of those swiveling cranes are helping real estate developers build condos to keep up with the rapid influx of new residents.
Like many cities, Austin’s downtown population fluctuated through the years along with lifestyle and demographic changes. For example, in the 1950s more than 10,000 lived downtown.
But people began moving out to surrounding neighborhoods and suburbs in subsequent years, as was common throughout the nation. By 2000, only about 4,000 people lived downtown.
That number has been climbing steadily in recent years, reaching 7,413 in the 2010 census.
And this is where all those cranes in the sky come in.
Since 2010, at least 1,059 more residences have been completed. That leads to estimates of over 10,000 current downtown residents, and the Austin area population is forecast to double by 2040.
Developers have stepped in to fulfill demand.
About 1,330 new units are currently under construction, which will accommodate about 2,000 new residents. Another 2,700 units are being planned.
Up and Coming Projects
Even with Austin’s fast pace of development, large condo developments can take years. Among downtown housing projects are several apartment buildings. But, for now, we’ll focus on condos.
Here’s a look at a few projects that are likely to be complete within a few years.
— 5th and West: Austin’s Riverside Resources is planning to construct a 37-story tall building with about 160 condo units.
— Seaholm on West Cesar Chavez: Located at 222 West Avenue, the 30-story Seaholm Residences are slated to open sometime next summer (2015). The tower is expected to have about 280 condos.
— Austin Energy Control Center: This 50-plus-story skyscraper would be the city’s second tallest building, and it’s expected to have about 400 condo units. Construction is slated to start late 2015. It’s at 3rd and West.
View all of the up and coming downtown projects on the City of Austin’s project tracker.