From SoCo to So Costly: Changes to South Congress making area too costly for some locals

AUSTIN ( ABJ ) — South Congress Avenue has transformed a lot over the years. Today, it is one of the most expensive areas in the city and home to several retailers.

This street once housed simpler stores, such as a vacuum repair shop, but now has luxury retail spots like Hermes or Lululemon.

Austin Business Journal’s Sahar Chmais said the change “from South Congress to SoCo” has made the area too costly for some locals.

“This has become a street that many Austenites don’t feel is accessible to them. There is the financial side but then there is the emotional side. We used to have all these quirky little businesses and now it is a national and international hub,” said Chmais during a talk with KXAN.

In the early 2000s, a business owner would pay less than $48 per square foot each year. Current business owners in the area pay around $200 per square foot, the highest retail rent in Austin.

Read the full story at the Austin Business Journal.

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