Tesla's new Gigafactory in Austin has done more than tack on national headlines: it's also reshaping Riverside and the rest of southeast Austin.
Michele Bryant, manager of Treehouse Apartments on Oltorf Street, said that "low availability (and) heavy demand" is ending previous specials and sales at the complex as Tesla employees take root in the area.
"We leased 13 units to Tesla employees in the last two months and many more are inquiring daily," Bryant said.
Tesla's Giga Texas is located 15 miles from Riverside's hub and sits near another southeast Austin feature, Austin-Bergstrom International Airport. Though the Gigafactory won't be complete until the end of the year, the company is hiring droves of new workers. In April, Tesla CEO and Austin resident Elon Musk tweeted, "Over 10,000 people are needed for Giga Texas just through 2022!"
Another busy dat at Giga Texas - it almost looks like the Millennium Falcon now @elonmusk 🛸
📷 @peterdog15 (1 of 4 pics) pic.twitter.com/K5CYWIzK8o
— Tesla Owners of Austin (@AustinTeslaClub) May 13, 2021
Austin Board of Realtors President Susan Horton said that the influx of tech companies has affected where people choose to move within the Austin metro. "We are projected to have 35,000 new jobs here by the end of the year because of just the tech industry," Bryant said. "Tech is booming, and they want to be as close to those areas as they can."
The effects of the ongoing tech and California migration have already been felt throughout Austin, but areas with close proximity to the companies' headquarters, including Pflugerville and Riverside, are seeing the biggest changes to their communities.
when i moved to austin just 10 years ago the east side was where my community was, where i went to feel like i was home, even with the riverside college kids. but even then it was much smaller. now since the tech boom's gentrification east side is nearly lost -- https://t.co/ppbX0MQ8WX
— Kate Sánchez⁷ (@OhMyMithrandir) June 6, 2020
Road construction plagues much of Oltorf, the street parallel to the south of Riverside, and new apartments are constantly being reconstructed or remodeled to match increasing demand.
East Riverside-Oltorf has been known for slightly higher crime rates, but it's also an affordable oasis amid the sky-high Austin housing market. Young people starting their careers flock to the area, which has an average 1-bedroom rent at $150 cheaper than the rest of Austin and half the price of rent downtown, according to Zumper.
But a change in landscape means a change in price. At Treehouse, there's more interest than there is room, and Bryant said the complex ended a special because they simply don't need it to bring people in.
On Riverside and nearby Oltorf Street, new high rises catered to young people stand half-built, and existing properties are constantly undergoing remodels.
Bryant, who has worked at Treehouse Apartments for two years, has already noticed changes to the neighborhood.
"I have noticed more mid-rise properties being built," Bryant said. She added it is "most likely due to tech and Tesla housing needs."
The neighborhood that is dotted with taco trucks and Austin treasures, such as Emo's Austin and Buzz Mill, is now slated for a revamp that mirrors The Domain in North Austin.
The project, nicknamed "The Domain on Riverside," is a 10 million-square-foot project approved by Austin City Council in October of 2019. The behemoth, labeled River Park, would double the size of its North Austin counterpart. The project could take over two decades to build, with its first phase set to be complete in 2023.
Rendering of River Park.
While some, including the project's developers, say the development will help add affordable housing and bring business into the area, others such as Save Our Hoodz, a local organization bringing attention to displacement, say the project contributes to gentrification.
The development is part of a bigger-scale operation adopted by the city in 2010. The East Riverside Corridor Master plan intends to bring more green space and walkability to the area, but it's also led to increased interest from cash-happy investors.
With Oracle bordering Riverside to the north and Tesla to the east, a change in landscape has already begun, and a transformation of the area seems almost guaranteed.
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Show your love for Tito's and for the community this year with a wide selection of not that ugly, uglyish, ugly, uglier, and ugliest holiday sweaters.
There's lots choose from, and plenty of accessories like scarves and socks, plus gear for your dog, too.
All of the items can be purchased online or at the Love, Tito’s Retail Store in Austin, TX. 100% of all net proceeds from online or in-store purchases go to one of the nonprofits we’ve teamed up with.
🗓 All weekend
Check out this highly anticipated art exhibition with illuminated art along Waller Creek. Tickets are free and the event includes food vendors, dazzling lights, live music, and hands-on activities
All weekend 6 p.m - 10 p.m | 📍Waterloo Park
This iconic holiday tradition lights up for the first time this holiday season starting this weekend! Reserve your spot for an enchanting light and sound performance, delicious hot cocoa, sweet treats, and some overall fun with your friends or family. The show runs till January 6th.
6 p.m and 9 p.m | 📍Mozart's Coffee Roasters - 3825 Lake Austin Blvd, Austin, TX 78703
This fitness event is free and open to the public. Get your morning started right with a "Fitness in the park" class for kickboxing! The class will be led by certified instructors and is a great way to get a cardio workout in while also honing your self-defense skills.
10 a.m - 11 a.m | 📍 Metz Park
Support local LBGTQ+ and female artists at this outdoor market with over 150 vendors. Get your holiday shopping out of the way at this event, with vendors for food trucks, handmade goods, raffles, hands on workshops and activities, and more.
Did someone say cheese?! If you're like me and always willing to get your hands on a bowl of mac and cheese, then this event is for you. Check out the Mac and Cheese festival happening this weekend to decide which vendor has. the best mac and cheese for yourself, and enjoy the bar with creative cocktails while you're at it. Tickets start at $45.
11 a.m - 3 p.m | 📍Lantana Place - 7415 Southwest Parkway