- Commercial Property Executive’s updated roundup ranks eight Austin projects, led by the $7.1B light rail line, a nearly $900M Capitol complex and the $5.7B I-35 Capital Express program.
- Private districts are scaling too: the $1B, 425-acre EastVillage targets 2030 to 2032 build-out, while the $4B River Park and 314-acre The Row sit near new transit.
- Austin had 1.2M SF of office under construction in July 2026, or 1.2% of inventory against a 0.4% national index, so new supply keeps arriving in a soft market.
Austin’s biggest development projects are moving ahead even as office and apartment fundamentals stay patchy, according to an updated roundup from Commercial Property Executive.
The list spans public works, mixed-use districts and a suburban downtown, and it points to where growth is headed over the next decade.
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Supply Keeps Arriving
Austin had 1.2 million SF of office space in the pipeline as of July 2026. That equals 1.2% of inventory, compared with a national index of 0.4%, according to Yardi Matrix data cited by CPE.
Meanwhile, apartment construction remains active. Developers completed 4,459 units in the year through May. Another 21,224 units are under construction.
CPE also highlighted the Waterline, a 74-floor mixed-use tower. The building now claims the title of tallest in Texas.
Public Money Leads
Austin Light Rail Phase 1 carries a $7.1 billion price tag. The project is now in design and preconstruction. It will span nearly 10 miles and include 15 stations, with service targeted for 2033.
Greg Canally, CEO of the Austin Transit Partnership, told CPE that construction remains on track to begin in 2027. The agency expects $3.4 billion to $3.6 billion in federal funding. It also selected Stadler to build 21 rail vehicles under a deal capped at $352 million.
Meanwhile, the state’s Capitol Complex is moving through its second phase. The overall project has a budget of nearly $900 million, with $314 million allocated to Phase II. This phase adds 525,000 SF across two buildings. Phase I delivered about 1 million SF in 2022. According to CPE, tenants can move into the new offices by summer 2027.
TxDOT’s I-35 Capital Express program adds another major investment. The three-project program totals nearly $5.7 billion. Its $4.5 billion central segment runs through 2033. In addition, CPE reported that work in downtown Austin will begin in 2027.
Private Districts Scale Up
Reger Holdings’ EastVillage is a $1 billion district spanning 425 acres. Plans call for 2,400 apartments, 466 homes and three hotels. The project will also include 1.5 million SF of office and lab space.
CPE reported that a 220,000 SF BillionToOne facility will open in Q2 2027. A $105 million Cottonwood loan backs the facility. Three Hilton-branded hotels will follow in 2028, adding 430 rooms.
On East Riverside, River Park represents a $4 billion investment across 109 acres. According to CPE, the project plans more than 10 million SF and 5,000 multifamily units over 10 to 20 years. Its 4,000-capacity United Heritage Hall is scheduled to open in spring 2027. The site is also a 15-minute walk from a planned light rail stop.
Further east, Presidium’s 314-acre The Row sits at Highways 71 and 130. CPE reported that the development targets 7 million SF. Its first phase, Del Via, opened with 307 apartments in 2025. Next, developers plan to add about 28,000 SF of retail.
Parks and a Suburban Downtown
Waterloo Greenway opened its 13-acre Confluence in June 2026. The city has also pledged about $150 million toward the full 35-acre park system, according to CPE.
Meanwhile, Leander’s 116-acre Northline is expanding its retail and office offerings. A new retail phase anchored by Sprouts is underway. The district is also adding a 95,000 SF office building, with the city leasing about 40,000 SF.
Other park projects are moving forward as well. Waterloo Greenway’s Phase III will cover 5.5 acres between Fourth and 12th streets and remains in design. Additionally, construction on the 2-acre Sir Swante Palm Park should begin next year. CPE reported that the park is expected to finish in 2028.
Alex Tynberg, founder of Northline Leander Development Co., told CPE that the district is progressing on all fronts. That includes housing, retail and office development.
Why It Matters
Beyond transportation, the rail program includes a $300 million anti-displacement fund. Of that amount, $60 million is allocated for 2026 through 2028, CPE reported.
Jenell Moffett, senior vice president at the Downtown Austin Alliance, told CPE that Project Connect should improve links between downtown and major job centers. She also said the I-35 rebuild should help workers, businesses and freight reach downtown and the wider metro.
At the same time, private capital continues to move toward the metro’s outskirts. The approval of the Taylor Technology Campus offers another example of that trend.
What’s Next
Several major milestones are approaching in 2027. These include light rail construction, the Capitol Complex offices, United Heritage Hall and the BillionToOne facility.
Together, these projects will offer an early test of whether transportation investment attracts more development along key corridors. Their progress will also show how effectively Austin can coordinate infrastructure spending with continued growth.
