East Austin update: One of the last old line businesses leaving East Austin as the area continues to develop economically and change culturally
Austin American Statesman reports that, Arnold Oil is moving out of East Austin and will move into a industrial area near the airport.
Co-owner Jim Arnold said the company needs more space and that what started as a two-man operation has outgrown Central East Austin, and vice versa. “I said there will come a time when this business will no longer have a place in East Austin, and that time has come,” Arnold said Tuesday. “We need to expand … and this doesn’t belong in East Austin on Friday nights and Saturday nights. It’s a changed place.”
The area east of I-35 in Austin, continues to change economically and culturally. Since the 1990 the area has renovated older housing stock, added housing and new businesses. A study by the UT-Austin LBJ School done in 2007 documents some of these changes. Recent activity has only continued the trends identified in the study.
Here are a few of the highlights:
- There is a significant demographic change in the racial and ethnic composition of East Austin
- There is overall increase in median family income and decrease in poverty levels in East Austin
- East Austin’s population is becoming younger and better educated.
- There is a substantial increase in housing values
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