Apple Inc. plans to build a $1 billion office campus in North Austin and construction is expected to take until 2021. The new campus will be less than a mile from the existing one and will be spread across 133 acres. The current Apple campus located off of West Parmer Lane and Riata Vista Circle employs approximately 6,200 people.
Apple's expansion is expected to make Apple the city's largest employer which means an additional 5,000 to 15,000 Apple employees will be looking for housing in the coming years. Jobs at the new campus will include engineering, research and development, operations, finance, sales and customer support.
Many believe the expansion will have a positive impact on the Northwest Austin housing market. The area and neighborhoods that most likely will experience the 'Apple Affect' will be along the Parmer Lane corridor into Cedar Park, Leander, Round Rock, Pflugerville, Georgetown and Hutto.
It is likely prices will increase but like anything else, the best way to prevent home prices from skyrocketing is to increase supply. With new development, new construction and some redevelopment, the city will keep up with the population boom.
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We have already begun to experience the influx of Apple transferee's and to be honest, Apple has head a steady stream of new employees moving in an out of Austin for several years. As a trusted name in relocation in Austin, The Ott Group has already helped hundreds of individuals and families move in, out and around Austin for decades.
With the new campus located near the intersection of Parmer Lane and McNeil Road, neighborhoods and developments will be directly affected by the campus that is projected to employ about 15,000 people. There will be a ripple affect starting with the neighborhoods located closest to the new campus and will continue out to areas including those along Parmer Lane like Davis Springs, Avery Ranch and Ranch at Brushy Creek to name a few. Also, Cedar Park/Leander, Liberty Hill, Round Rock West and East will likely see property appreciation rise as more and more transferees look for homes within a reasonable distance to reduce commute time as much as possible.
If you or someone you know is interested in buying or selling in these areas, our team would be honored to help with the move. Feel free to contact us for a free Broker Market Analysis that can help you make a decision to move up or downsize.