AUSTIN (Community Impact Newspaper) – Business expansion and relocation into northwest Austin is growing, according to data from Community Impact Newspaper.
Between April 2011 and March 2012, 42 businesses relocated into the area, while 80 businesses expanded. Expansions included either adding square footage to existing facilities or opening new locations.
And it’s not just more businesses that are moving into the area. More housing is on the way as well. For example, the Austin Business Journal reports that the Monterra luxury apartments will break ground this June. Florida-based Epoch Properties Inc. will build the 276-unit complex at Parmer Ln. and Legendary Dr. Construction is expected to be complete by the end of 2013.
Northwest Austin is defined as the area between Wells Branch Pkwy. and RM 620 to the north, RM 2222 to the south, Spicewood Springs Rd. to the west and N. Lamar Blvd. to the east.
Cole Brodhead of Retail Solutions, an area real estate firm, points to the region’s strong economy and relatively low unemployment rate for the added growth. As reported last week, Austin’s unemployment rate dropped to 6 percent in March.