State of Downtown Report 2020
Rapid growth, exceptional market strength and record-setting development
Our urban core experienced growth in nearly every sector in 2019 – including a record high development pipeline, with 20 projects under construction and another 19 planned. Things changed quickly in early 2020 as a global pandemic dramatically changed the city’s vibrant landscape.
Our State of Downtown 2020 report demonstrates the incredible position of strength in which entered the decade and will serve as a gold standard of what we can be. As we turn our efforts to recovery, our upcoming research projects will provide vital information to aid in recovery and advocacy efforts moving forward.
Shaping the Future of Downtown
- Downtown’s share of Austin’s property value has doubled in the past 10 years.
- Austin was ranked #1 in the real estate market by the Urban Land Institute.
- The downtown Austin office market is considerably smaller in size than our Texas peers, yet it remains the strongest in the state.
- The number of hotel rooms downtown has increased by 94% in the past 10 years.
- Downtown Austin’s total employment is smaller than that of our peers’ downtowns but has grown at a much faster rate.
Curious about what’s ahead for downtown Austin? Watch our video on the future of downtown to hear what the coming years have in store for our urban center.