Growth is vital to the success of any city. Fortunately, Austin is no stranger to growth as the beautiful skyline can attest. Here are two great things that are ratcheting up the capital city’s market prowess:
The office space market is experiencing an all-time high according to the National Office Report by CommercialEdge. This boom is based on huge demand as Austin has added over 85,000 jobs since May 2020. Much of the 7.69 million square feet of space being built can be seen from all over the city as new structures reshape the skyline. The boom of towers doesn’t stop there. 2023 introduced the beginning of several other towering office buildings, including the 74 story (1,022 ft tall) Waterline tower which, according to a September 6 report in the Statesman, will be the tallest building in Texas.
The past year has seen success in the opening of the new Moody Center on April 20th. The arena, designed to host over 15,000 event attendees smashed through expectations, grossing over $62.7 million in 2022, according to Billboard Magazine’s December 12 article. With upcoming events like Cirque du Soleil Corteo and Monster Jam, super star performances from Madonna, Bruce Springsteen and, of course, UT Women’s basketball, the venue is expected to draw even more in the coming year.
These are just a couple of factors that continue to keep the Austin economy strong.
