In the Downtown Austin Alliance’s first ever economic report centered on the district, DAA’s Dewitt Peart said there is room for development and growth, claiming, at the end of 2017 there was 60-million square feet of space built in Downtown.
By Peart’s count there is about 70-million square feet of development built or under construction and 48-million that can still be added under the current land use code.
Downtown’s population growth has greatly outpaced the city, building by 85{870dce3150dcce8b7f57e497f1835ac6446de711f3b298b842add65a7b4249b0} since 2010 as opposed to the almost 20{870dce3150dcce8b7f57e497f1835ac6446de711f3b298b842add65a7b4249b0} growth rate experienced by the city as a whole.
Of the residents living in downtown Peart said almost half are between the ages of 25-34.
Peart reports there is about 9-million square feet worth of projects actively in the planning stages today.
(Photo: Shutterstock)
