Austin is one of the fastest growing areas in the country, but as a result, has a real transportation challenge ahead of it. Capital Metro’s Austin In Motion study found that congestion/traffic is the most serious problem that has come from fast growth in the Austin area, according to 70% of respondents. There is simply not enough capacity in the current transportation system to accommodate the vast growth.
Looking ahead, Austin’s transportation infrastructure will be a threat to its future economic growth, which could have a softening effect on the office market. Austin desperately needs vast improvements in the capacity of roadways and mass transit, according to a fourth quarter office report by Savills Studley. The quarterly report is a compilation of office leasing statistics and trends, major transactions, submarket comparisons, employment trends, and investment and development trends specific to the Austin region.
John Scoblick, corporate managing director, Savills Studley tells GlobeSt.com: “Our inadequate transportation system and the resulting congestion and traffic is recognized by the majority of Austonians and business leaders as the number one issue facing the city as a result of the cities fast growth. Left unchecked, it will impact the status of Austin as a leading office market and jeopardize its continued growth and quality of life...Weight Of Cars Has Potential To Crush Growth
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National Office Sector Report (Q4 2015)