- “The storied past begins with a settlement named Waterloo. Immigrants from Germany, Sweden and Mexico were the area’s original inhabitants, but extreme periods of growth followed our renaming and becoming the state capital in 1839. The 1850s saw the first building boom with the construction of the first Capitol building in 1853. A second building boom occurred in the 1870s with the arrival of the railroad. In 1883, Austin became a college town with the founding of the University of Texas at Austin. Then the magnificent Driskill Hotel opened its doors to a now bustling city in 1886. And after a fire destroyed the original building, the current Capitol was completed in 1888, standing taller than our own nation’s Capitol. With its construction, the skyline we know today began to take shape.”
Austin Population Growth:
- 947,890 (2016)
Austin Real Estate Growth:
- Per RealtyAustin, the average media price for single-family homes in Austin is $321,000, a 7.3% increase from last year. The total dollar volume of single-family properties sold is $1.25 billion, and the average price of single-family properties sold is $405,000 According to NeighborhoodScout, the homeownership rate in Austin is 43.8% owners, 56.2% renters, and the vacancy rate is at 7.7%.
Major Attractions in Austin:
- Mount Bonnell: The famous hiking trail is located alongside the Lake Austin portion of the Colorado River and has been a popular destination for many tourists since its founding in the 1850s.
- Texas State Capitol: The Texas State Capitol is located in Austin, Texas, and many folks visit the site to take tours and observe the beautiful building. Of course, the capitol contains the chambers and offices of the Texas Legislature and the Governor’s Office.
New Businesses in Austin:
- Austin Proper Hotel & Residences: The Trammell Crow Company is planning to create the hotel with developers, the Kor Group. The 32-story hotel would have 243 rooms on Block 188 and also have 100 condominium units.
- Mexic-Arte Museum: Mexic-Arte is planning to create a 7 story museum to replace the current building on Congress Avenue and E. 5th Street. Two of the museum’s stories will be underground, and the museum will showcase traditional and contemporary Mexican, Latino, and Latino art and culture.
Fun Fact: The city formerly known as Waterloo was later named “Austin” after Stephen F. Austin, “the father of Texas.”