AUSTIN BUSINESS AND ECONOMY
AUSTIN’S BUILDING
BOOM!
For the last two decades, Austin,
Texas, has been one of the fastest
growing cites in the United States. Austin’s
MSA population has increased from 1. 2
million in 2000, to 1. 9 million in 2014.
This population boom has been built on
Austin’s music scene, a growing
economy, and an eclectic culture —
embodied in the city’s unofficial slogan
“Keep Austin Weird.” The city has gained
one-million residents since 1990, when
the downtown area was full of empty
offices and high-rises—a situation many
other U.S. cities have faced since the
economic downturn in 2008. It seems
populations have been flocking to Austin
to take advantage of the seemingly
endless opportunities.
While Austin’s population has steadily
skyrocketed, the city’s infrastructure fell
behind: banks simply weren’t offering
loans to build. One look at downtown
Austin, however, and it’s obvious that
things have changed.
THE CHANGING AUSTIN
SKYLINE
There are an incredible number of projects
on the horizon for Austin’s Downtown
areas. The corner of Red River and Cesar
Chavez Sreets will be completely
transformed by The Fairmont Austin Hotel
and The Waller Park Place Center. At its
conception, The Fairmont was slated to be
Austin’s second tallest building, at 50
stories high. However, The Waller Park
Place Center is scheduled to include a 54
story apartment tower, a 30 story office
building, as well as a 48 story
hotel/condo high-rise – which will come in
very close second place to The Austonian
(Second St. and Congress Ave.), Austin’s
current tallest building at 56 stories or 683
ft. tall.
