Some exciting developments are on the horizon for big names in Austin. Between new construction at Apple’s campus in Northwest Austin, several expansions for the Tesla Gigafactory, and a mixed-use development rising up east of the Austin-Bergstrom International Airport, Austin commercial real estate is skyrocketing in 2023.

Apple NW Austin Campus Construction

Apple will be beginning construction on several huge developments at its Northwest Austin campus. In early January 2023, Apple filed plans with the Texas Department of Licensing and Regulation to construct a four-story and five-story building, each costing roughly $120 million.

Tesla Gigafactory Expansions

Big things are coming to the Tesla gigafactory in east Austin this year. In 2023 alone, the company has filed plans for future construction at the gigafactory, estimated to be more than $775 million in cost. The last filing (the fifth in 2023 so far) appeared on January 10th for a project called Die Shop. This development aims to construct a new building on an immense 107,468 sq. ft. lot, costing roughly $59 million. With the addition of this new Die Shop project, Tesla’s total footprint of projects will reach 1.5 million square feet.

Colorado Bend Industrial Mixed-Use Development

A massive mixed-use development is on the horizon for Southeast Austin. According to a recent filing, the first project for this development will be Colorado Bend Industrial, just off state highways 71 and 130. The one-story Colorado Bend Industrial building will span 453,658 square feet and cost $44 million. Construction is set to begin on May 15th, 2023, and is expected to be finalized one year later, in 2024. 

This is just the tip of the iceberg when it comes to commercial construction in Austin. 2023 is poised to be an eventful year for our favorite city. Stay tuned for future Austin developments by following my blog or contacting me directly at tmcneil@kw.com.