Last December, news hit the media that North Austin was selected as one of the cities where Apple will build a new campus. The real estate industry has been booming with talk of how Apple and other companies moving to Austin could affect the surrounding areas. As 2019 wraps up, Monte Davis Realty Group looks to the coming year and recaps what you, as a property investor, should know.
Apple's CEO, Tim Cook is quoted as saying, "Apple is proud to bring new investment, jobs and opportunity to cities across the United States, and to significantly deepen our quarter-century partnership with the city and people of Austin." Apple plans to eventually employ 15,000 at the new 100,000 square foot campus in North Austin which is very close to it's now over-flowing offices at Riatta Corporate Park. Also close by in North Austin is the popular retail hub, The Domain.
The Domain is a five-star shopping center set on 300 acres in North Austin. The third and final phase was completed in 2016. The Domain quickly became a major focal point and destination for Austinites as well as visitors with its restaurants, outdoor venues, hotels, movie theater, apartments and high-end retailers, as well as locally-owned businesses. This pleasant shopping atmosphere is catered by the tranquil landscaping along its streets that you can enjoy while taking a break with tea and crumpets, wine and cheese, or a slice of pizza.
Austin's affordability, continued growth, and quality of life are driving factors in many companies moving to Austin. Its strong talent pool has attracted startups such as Paradromics, Zdaly and REX. This, in turn, has attracted many real estate investors to look at Austin as prime real estate. Monte Davis Realty Group (MDRG) drew a circle around this bullseye of North and Northwest Austin more than a decade ago, and has helped many of its investors achieve great success with properties in this area and nearby neighborhoods of Cedar Park and Round Rock. North Austin is quickly becoming the new popular hotspot and could easily be coined, The new Downtown North. It is absolutely exploding with potential and it is worth talking to MDRG about what type of investment you could be making.
The takeaway is to keep your eye on the North and Northwest area of Austin. This is only the beginning of a strong future. To the East of the Domain and around Riatta Corporate Park, there are acres of vacant land. Property owners are rapidly benefitting in appreciation from their home being close to this business park. If you're looking to own property in the near future, we strongly encourage you to look into the North and Northwest area. Visit our communities page to learn more about the types of properties that you could invest in.