Economy | News | Real Estate

2011 Looks Bright for Downtown Austin


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Over the last few years, Austin’s skyline has continued to change from one year to the next.  As 2011 kicks off, the most obvious new change is the completed W Hotel, which features some of the best new residences in downtown.

As new real estate options continue to develop in the city center, new entertainment and dining options also continue to flourish.  One area of downtown that has seen a dramatic growth of this nature is Rainey Street, located parallel to 35, near the intersection of Red River and Cesar Chavez Street.

This particular area of downtown, which was officially re-zoned to include commercial businesses in 2005, has become a lively bar/restaurant scene in a span of a few short years, and shows no signs of slowing down anytime soon.  In early 2011, two new bars are opening, new parking meters will line the entire street to help alleviate parking issues, and new restaurants are being considered (thanks to the success of Indian eatery G’Raj Mahal).  Plus, South by Southwest 2011 plans to have a huge presence in the area this year, bringing even further public interest in an exciting new area of downtown.

This radical transformation of a once quiet neighborhood was influenced by the installation of two premium condo towers, Milago Condos and Shore Condominiums, and is a great example of how the continued growth of Austin continues to add value to residents living downtown and nearby.  As more night-life and dining options become available throughout the city center, more businesses will continue to open thriving downtown offices such as Facebook, BazaarVoice, HomeAway, Whole Foods, & McGarrah Jessee.  Here’s to a great 2011, and Austin continuing to re-assert itself as one of the best places to live in the country!

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