This trifecta of factors makes it one of the most compelling sites for a major business to locate.” Velocity has space available for a major company to open a campus on their property, and are in talks with a few, according to Bulmash.
On the note of businesses relocating to Southeast Austin, attention started growing on the area when news of Tesla Inc. ‘s billion-dollar electric vehicle plant off the State Highway 130 toll road, which is now designated the company’s headquarters broke. Barakat Ali even stated that the property next to his land sold for $107,000 an acre, which was more than triple what he purchased the land for.
When asked if this area is perfect for Velocity, Bulshmash said, “The ripple effect of Tesla simply can’t be understated. We see many more projects taking flight, supported by a strengthening manufacturing industry that’s poised to grow tremendously in the coming years.”
The future vision for Southeast Austin is vivid. It’s poised for massive growth for the next 20 years, according to the Austin Business Journal, as the population is projected to grow from 2.2M to 3.6M. Many homes will be built here to match the growing population. The main goal for both the community and the developers involved are quality of life and sustainability for the expected influx of residents.
Velocity will provide food solutions, and there are plenty more in the works on top of that. Ali plans on opening both a 23,000 sq. ft market this summer as well as a 40,000 sq. ft “supermercado”. Additionally, the H-E-B is still due to open a store on their 17.2 acre plot.
As reported by the Austin Business Journal, Capital Metropolitan Transportation Authority’s Project Connect will bring a train line to Austin-Bergstrom, linking Southeast Austin to an expanded transit system. Within the next 10 years, Southeast Austin will be a thriving, walkable, community that employs, feeds, and entertains many families in the metro.
If you’re looking for an investment with a bright future, schedule a consultation to discuss what investing in this area could look like for you.