Austin’s Next Growth Corridor Is Taking Shape in the North
While downtown towers (The Republic, Waterline) continue to reshape Austin’s skyline, the city’s most significant momentum is unfolding farther north. A cluster of submarkets — including regions like the Domain, East Parmer, and Georgetown — is quickly establishing North Austin as one of the metro’s fastest-growing regions.
The Domain has long been recognized as a landmark for high-end office development, but the strength of tenant demand is now expanding outward. Companies attracted to North Austin’s blend of high-quality space, strong amenity bases, and proximity to fast-growing talent pools are fueling absorption well beyond the Domain’s 9 million square feet of existing office inventory.
Areas like Georgetown and Far Northwest Austin, which have become known as industrial hubs through Tesla and Samsung’s large-scale investments, are also gradually expanding into the office sector.
To put the scale of this growth into perspective, North submarkets already make up nearly 30 million square feet of Austin’s 78 million square foot RBA. In Q3, they accounted for almost half of all leases signed over 500 square feet (CoStar). Even after excluding Nvidia’s 100,000-square-foot lease at the Domain, Class A vacancy across these submarkets fell by 286,000 square feet during the third quarter.
Not only are these submarkets seeing declining vacancy, but many developments are on the horizon to meet growing demand. Excluding the Domain, North Austin accounts for 745,000 square feet of new office space under construction. Of this, nearly 340,000 square feet will be office/medical or life sciences, reflecting a trend that continues to grow as Austin’s economy diversifies.
Southwestern University 560 (Georgetown) — A proposed mixed-use development by Banbury that reflects long-term confidence in North Austin’s trajectory as a premier employment corridor.
EastVillage (Northeast) — Actively under construction, the project’s first phase includes a 223,500-square-foot build-to-suit for life sciences firm BillionToOne. This is part of an ambitious plan to ultimately deliver 1.5 million square feet of new office space by 2030.
Even as deliveries rise, leasing also does, underscoring the north’s appeal as a long-term destination for employers. What’s unfolding is bigger than a single district — North Austin is evolving into a network of office and mixed-use centers, positioning the region as the metro’s next true employment corridor.