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The Downtown Austin Alliance recently released its State of Downtown quarterly report. The three top takeaways from this quarter are:
1. Data shows the demand for residential developments downtown is robust despite the delivery of numerous projects over the last two years.
2. Downtown foot traffic continues to increase and is back to 63% of what it was pre-pandemic, with nightlife foot traffic returning to pre-pandemic levels at 95%.
3. With a more than 73% average occupancy rate for this quarter, the Downtown Austin Alliance predicts the hotel market will continue to grow and add to our economy.
Read the full report here.