Apple’s New Austin Campus To Pressure City’s Real Estate Landscape
Apple Inc.’s plan to expand its presence in Austin, Texas, with a $1 billion new campus is a good and a bad thing, depending on who you talk to.
Apple’s newest Austin campus will be located less than a mile from its existing facilities in the northwest part of the Texas capital. The 133-acre site will initially accommodate 5,000 additional employees, with the capacity to grow to 15,000, and is expected to make Apple the largest private employer in Austin, per the company’s official statement.
Even prior to the announcement, real estate prices – both residential and commercial – have been on an upward trajectory in the Austin area in recent years. The growth of the city’s tech ecosystem has been largely behind it as its startup scene has flourished and a number of large tech companies have set up large offices in the area (besides Apple, other large employers include Google, Facebook, Amazon, and Oracle among others).