Downtown Austin, Tx is truly the heart of it all – music, politics, business, food, art, you name it! Here in the city center you can find what makes Austin one of the top cities in which to live and why the city earns the name Live Music Capital of the World.Nearly year round the streets of downtown Austin are host to numerous festivals and events that bring visitors from around the world, such as South by Southwest Film, Interactive, and Music Festival, the Livestrong Marathon, Art Week Austin, Austin Farmers’ Market, and more.Opening an office space in Downtown Austin is the place to be if you are looking for world class standards in both work and play.
Not only is the area home to the Texas State Capitol, many businesses including Whole Foods Market, Facebook, and GSD&M Idea City maintain office space in the downtown area. Several businesses in downtown Austin were voted Best Places to Work in Austin. Downtown encompasses approximately 450 office buildings, accounting for over 13 million SF of downtown austin office space. The average leasing rate is $33 SF; however, depending on the class, rates can range from $17 to $46 SF.Retail space in Austin includes about 370 properties totaling over 4 million SF with average rates of $25 SF. However, industrial space is limited with about 168,000 SF and less than 20 buildings. Expect industrial rates of about $19 SF.
The recent booming development of Downtown Austin has led to several new building projects, making the area resident and pedestrian friendly. Those seeking an urban lifestyle can find residence in new high-rise condominiums, such as the Austonian Condos, the 360 Condos, and the Four Seasons Condos. As can be expected, cost of living Downtown can be higher than other areas, with median housing prices of $314,000.In addition, Austin’s Second Street District offers locals high-end shopping and gourmet dining (yes, that includes barbeque). Even the famous television music program Austin City Limits has found a new downtown home for its live concerts in the new W Austin Hotel & Residences.As with most major cities, downtown traffic can be more gridlocked than other parts of Austin. Fortunately, you’re not far from important city amenities like University Medical Center Brackenridge located on East 15th Street and Austin-Bergstrom International Airport, about a twenty minute drive.