Apple to invest $120 million more into building out its Austin campus
source link: https://macdailynews.com/2023/01/06/apple-to-invest-120-million-more-into-building-out-its-austin-campus/
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Apple to invest $120 million more into building out its Austin campus
Apple is planning to invest at least another $100 million into building out its new Austin campus, the Austin Business Journal reports Friday.
Cody Baird for Austin Business Journal:
It’s welcome news for a city — and real estate sector — that has been put at risk by big tech employers lately as recession fears loom and the work-from-home model prevails. Facebook is slimming down in Austin, backing out of space it was to take in Austin’s next tallest skyscraper. News of coming layoffs at Amazon.com Inc. and Google Inc. has left many real estate pros on pins and needles.
But Apple (Nasdaq: AAPL) appears to be bucking that trend. Executives did not respond to requests for comment about their new Parmer Lane Campus, but according to a Jan. 6 filing with the Texas Department of Licensing and Regulation, the company plans to begin construction on another large building at the property this year.
The latest construction filing is for a project known as Capstone Phase Two AC09. The scope of the work is for a new, 203,941-square-foot, four-story building core and shell. The project carries an estimated cost of $120 million. Construction is expected to begin Sept. 30 and complete March 30, 2025.
MacDailyNews Note: In November 2019, Apple announced the start of construction on its new campus in Austin, Texas, as part of its broad expansion into the city.
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