Out-of-state developers are beginning to notice. Tishman Speyer, a real estate developer based in New York, announced in February its debut in the Austin market, purchasing the Foundry, a two-building office property in East Austin. Adding the city to its real estate portfolio was a “logical choice,” Rob Speyer, the firm’s president and chief executive, said in a statement.

Other major developers have long made Austin an essential element in their growth strategy.

Cousins Properties of Atlanta is one of the leading office property owners in Austin after more than 20 years there, with 4.8 million square feet of office space either completed or under construction. Cousins is a major developer of the Domain, a high-end complex with retail, residential and office space in the North Austin neighborhood.

Much of the city’s appeal stems from its posture as a “very socially progressive and eclectic, creative city” that benefits from being in a state with lower regulation and lower taxes, said Colin Connolly, the president and chief executive of Cousins.

Brandywine Realty Trust, the largest landlord in its hometown, Philadelphia, has operated in the Austin market for 15 years. This year, it is starting a multiyear development on a 66-acre site near the Domain. The Broadmoor campus, which is anchored by an IBM complex, is expected to be completed in about 10 years, at a cost of about $3 billion. Planners say it will infuse the area with an uptown vibe combining office, residential and retail space among at least 11 acres of parks.

The company is also nearing completion on the 405 Colorado, a 25-story office tower that will begin housing tenants this summer.

“People believe long term that Austin is on a roll and continues to be,” said William D. Redd, Brandywine’s executive vice president and senior managing director. “If you’re a big investment firm, you want a piece of that action.”

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