ULI Austin conducted a survey from May 8 to May 22, 2020 to determine the impact of COVID-19 within the greater Austin real estate business community. We re-conducted this survey from November 10 to December 4, 2020 to compare results.
75 participants submitted comments to the survey in November. Common themes involved concerns about their employees’ health, worries about commercial office space, especially downtown; and uncertainty about the pandemic’s resolution. Concerns also were raised about the impact of less interpersonal communication—inside companies, with current and potential business partners and clients, and with local government.
Participants cited future opportunities in the industrial and residential sectors, with some calling out Austin’s continuing appeal to those relocating from the coasts. Several respondents indicated that the pandemic will expedite new ways of doing business going forward.