Austin, Texas, is poised for significant transformations in 2024, with several major developments and projects underway that will shape the city's infrastructure, real estate, and public spaces.
One of the most ambitious projects is the $4.5 billion overhaul of I-35, known as the I-35 Capital Express Central. Construction will begin this year, focusing on a stretch of the highway from Hwy. 71 to US 290 E. This project involves widening and lowering parts of the highway, as well as implementing "caps" and "stitches" to enhance pedestrian and bike access, significantly improving the city's transportation infrastructure[1].
In the realm of healthcare and education, the University of Texas at Austin is embarking on a major project with the demolition of the nearly 50-year-old Frank Erwin Center to make way for a new hospital in partnership with MD Anderson, one of the country's top cancer treatment centers. This $2.5 billion project includes a second hospital tower and will be part of Austin’s burgeoning Innovation District[1].
Downtown Austin will also see significant changes with several new developments. The Sixth&Blanco project will transform about two acres of West Sixth Street into a mixed-use development featuring five stories of retail, hotel, and residential space. This project has been in the planning stages for years and is set to begin construction soon, displacing current vendors in the area[1].
Historic Sixth Street is undergoing restoration and renovation efforts led by Stream Realty Partners, which owns over 30 properties in the historic district. Architecture firm Clayton Korte is spearheading this effort to preserve the area's historic charm while modernizing its facilities[1].
The Block 21 development, home to ACL Live and the W Austin, is undergoing $40 million in upgrades. These renovations include improvements to the hotel’s entrance and dining areas, as well as a new 2,060-sqft terrace at ACL Live, expected to be completed by summer 2024[1].
On the skyline front, the Wilson Tower, initially planned to be 80 stories tall, is now set to reach 45 stories, aligning in height with the Frost Bank Tower. Construction has just begun, and the tower is not expected to be completed anytime soon. Meanwhile, the Waterline project in the Rainey Street district is well underway, with completion anticipated in 2026. This development will include the 1 Hotel Austin, over 350 luxury apartments, and 700,000 sqft of office space, making it Austin’s tallest tower upon completion[1].
Environmental and public space enhancements are also on the agenda. The second phase of Waterloo Greenway’s plan to transform Waller Creek is now underway, focusing on the southernmost stretch of the greenway. This phase includes the addition of three pedestrian suspension bridges, new trails, multiple public green spaces, and over 1,550 new trees[1].
In terms of residential developments, the Luminary condo tower will offer 286 homes, 4,800 sqft of retail and restaurant space, and a significant allocation for the Combined Law Enforcement Associations of Texas. Although the start date has not been announced, condos are expected to range in price from $600,000 to $3 million[1].
Additionally, large-scale projects like Uptown ATX are in the works. This $3 billion, 66-acre transit-oriented master-planned community near the Domain will include over 7 million square feet of workspace, family apartments, retail, and a new Capital Metro Rail Station. The first phase, One Uptown, has already begun construction on a 5-acre site[4].
These developments highlight Austin's continued growth and transformation, reflecting the city's appeal to innovative companies, residents, and visitors alike.
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Jan 27 20254 mins