Austin Tech Scene Heats Downtown
The Austin American-Statesman is reporting a huge boom in tech companies investing into downtown real estate. The Austin area has 115,000 technology sector jobs with approximately 15,000 of those downtown, and rapidly increasing. California giant Google will soon occupy more than 200,000 square feet on the western edge of downtown. Commercial rent is 40% higher than the highest tier rent in suburban areas, but employers see the premium necessary for hiring – and retaining – the best talent who enjoy an urban lifestyle of walking, biking, or a very short drive to work.
– Jake Hallahan