Study shows Austin has large quantity of recently built homes
Despite the economic recession that negatively impacted many areas of the United States in the late 2000s, new construction projects took place in various cities and towns over the past decade. In fact, Austin is one of several cities that boasts a large quantity of homes built since 2000, which is reflected in recent data. The number of homes for sale in Austin could decrease over the next few months if more people decide to invest in some of these properties.
The Austin Business Journal notes that a November 2012 analysis showed that Austin features 723,927 apartments, condos and houses constructed since 2000 - fifth-most in the nation. Data also reveal that more than 32 percent of Austin's current housing units were constructed in the 21st century.
New construction projects in Austin
A construction boom is taking place in Austin, and local residents could enjoy these new properties.
According to The Wall Street Journal, Austin is among the top 50 growth markets in the country. The city has seen many new construction projects over the past few years, and some housing construction experts stated that they expect the region to experience significant growth in the near future.
Commercial expansion in Austin
New residential properties are being constructed in Austin, and several businesses have targeted the city for its wealth of opportunities.
Cordero Hosting, a cloud-hosting service provider, illustrates the rise in commercial expansion in this area. Ping! Zine reports that the company, which currently has data centers in Chicago, Phoenix and Ashburn, Virginia, is opening a new office in Austin. This building will host Cordero CEO Emil Sayegh and various customer service, marketing, product development and sales staff.
Chandler Vaughn, the company's Senior Vice President of Product Development, said the Austin office allows the company to continue to provide the exceptional service that helped it earn its reputation.
"Austin's vibrant technology community and reputation for being a hub of innovation will benefit Codero significantly, helping us to continue our expansion and enabling us to better serve our global base of customers," Vaughn told the news source.
Rackspace Hosting, a cloud-hosting solutions provider that serves more than 197,000 customers, is also expanding its operations. The Austin American-Statesman notes that the company is setting up a new office in North Austin along Interstate 35 to further showcase its dedication to providing a quality facility for its workers.
"One of our core values is substance over flash," Bill Blackstone, Rackspace's Austin community outreach leader, told the newspaper. "We don't need to be in the flashiest neighborhoods. The spirit of the company is to build from the inside out. If you build something from the inside out, people will want to be a part of that."
Rackspace, which had operated out of San Antonio since 1998, is currently a global organization that performs major operations in Europe and Asia. The company's Austin facility features 87,000 square feet of space and is a busy, but informal, workplace.
To better compete with Dell, Hewlett-Packard and many of the world's top technology companies, Rackspace also intends to increase its workforce. This business earned more than $1 billion in revenue last year and has an office space that can house around 500 workers. After adding 100 staff members to its team in 2011, Rackspace could look to Austin job seekers for extra support.
Austin is an evolving city, both for its new residential buildings and its commercial properties. People who check out some of the houses available in this city will find that Austin has plenty to offer, including a growing economy and an expanding business sector.