Travis County in Texas has voted to give Tesla tax breaks worth a minimum of $14.7 million to build its next Gigafactory where they will manufacture the Tesla Cybertruck and employ thousands.
Multifamily real estate is holding strong during COVID. 92.2% of apartment households made rent payments during June.
Dell Children’s announced May 7th they will be expanding into Northwest Austin with a new $191M, 135,000-square-foot children’s hospital. The new hospital will include emergency and trauma services, a pair of operating rooms, endoscopy and procedure rooms, sleep labs, extra space for future growth and a 60,000-square-foot medical office.
Austin, TX was ranked one of the best cities with the most durable jobs. Austin is a high-tech hub featuring companies like Dell, Apple, Google, Facebook, and Hewlett-Packard. It is also home to the University of Texas.
Elon Musk is said to want to start construction extremely soon and aims to have Model Y vehicles coming out of the plant by the end of the year.
The Austin-Round Rock metro has been ranked the third best-performing major metro by the Milken Institute in their annual Best-Performing Cities Index.
Austin, Texas was in the top 5 cities to perform exceedingly well during a Recession in a study from financial technology company, SmartAsset. They analyzed 264 of the largest cities across the country to identify the most recession-resistant cities in the U.S., and Austin, TX came in at number five.
Austin was ranked the number 2 city by Forbes for Real Estate investing. Austin has seen real estate prices skyrocket because of an influx of tech jobs, lower taxes, and a state with great cost of living and affordability.
The City of Austin’s population is expected to reach 1 million by 2020 and 4.5 million by 2040 according to a year-long series “Boomtown 2040” by local Austin TV station KVUE.
The expansion of jobs and real estate continues in Austin! 330,000 square feet of office space and a 340-unit building are being built at The Domain This surge of growth has been driven by tech companies that are transforming the development with new office towers, several of which are fully leased to companies including Vrbo (formerly HomeAway), Indeed and Facebook. Amazon also has a large presence at the Domain.
Amazon will add 800 tech-focused jobs at its hub in North Austin, company representatives told the American-Statesman. New employees will fill a 145,000-square-foot space Amazon has leased on four floors at Domain 10, a 15-story tower being built at the Domain, the North Austin business, shopping and restaurant development. Amazon already employees almost 6,000 workers in Austin