State of Downtown Report 2022

The Emergence of the 18-Hour City

From live music to coffee shops, community parks to historic theaters, office space to locally owned businesses, downtown is a collection of the best of what Austin has to offer and then some. In recent decades, downtown Austin has continued to evolve, oftentimes exceeding previous levels of investment, attracting more people, business, culture, civic engagement, arts and creativity at every turn. The energy of the place we call downtown is unmatched by any other part of the city.

All the things you love about Austin are maximized downtown.

Downtown serves as an economic anchor for the Central Texas region due to its concentration of jobs, transportation connections, and density of real estate development. Downtown is the heartbeat of the community amplified by its stamp on live music and entertainment, variety of food choices and experiences, and vibrancy generated by the diversity of people who frequent it each day.

The city center connects the community providing an atmosphere like no other, featuring high-quality parks, art and public spaces. The center city ecosystem brings together a mix of uses that support each other to create a unique experience that generates several radiating benefits to the rest of the region.

The Emergence of Austin as an 18-Hour City

Austin has shown over the last year that downtown is truly built for living, working, and playing. With small businesses opening their doors for visitors in the morning, workers bustling through the streets in the afternoon, and live music floating down the streets in the evening, downtown Austin is a space with vibrancy flowing through it during all hours of the day.

Here are just a few stats showcasing downtown’s growth and strong recovery from the pandemic:

Vacancy has stabilized as leasing activity has recovered to pre-pandemic levels.
2,161,727 SF are currently under construction.
Total downtown employment recovered to its pre-pandemic levels quickly in 2021.
Downtown businesses are capitalizing on the rebound in consumer demand as 60 new businesses have opened since the pandemic began.
11 office projects are currently under construction, and 11 more have been proposed or are in planning.