Construction cranes, jackhammers and cordoned-off streets have resurfaced on the downtown landscape again, signaling another upturn in the cyclical real estate market post-recession and more change ahead for downtown Austin’s skyline.
The skyline changed dramatically in the past decade, with the addition of nearly 4,800 residential units — 2,465 apartment units and 2,319 condos — since 2000, according to Capitol Market Research, an Austin-based real estate consulting firm. With so many new developments there are still only a handful of condos for sale in 78701. The projects have included landmark skyscrapers like the 56-story Austonian high-rise; the Four Seasons Residences (32 stories); the W Austin Hotel and Residences (37 stories); the Spring condominium tower (42 stories); the Ashton apartment high-rise (36 stories); the 360 condominiums (44 stories); and the Frost Bank Tower (33 stories).
Soon, the city’s skyline will be even more impressive, with about 500 apartments and more than 1,300 hotel rooms now under construction and about a dozen other projects planned, including two apartment towers that developers expect to announce soon.