AUSTIN, Texas--(BUSINESS WIRE)--The Austin Economic Development Corporation, a real estate nonprofit stewarding community and economic development in Austin and surrounding regions, today debuted the organization’s new name: Rally Austin.
Rally Austin was founded with a vision to create a culturally resilient and economically integrated Austin where diverse communities can thrive and prosper without risk of displacement. Founded by the City of Austin as an independent local government organization, it works directly with government organizations and Austinites to facilitate community-centered development projects, restore and maintain important cultural spaces, and create equitable economic outcomes.
“In Rally Austin, we’ve found a name that reflects our ability to unite community stakeholders, government organizations and private donors around projects with clear community connections and benefits for Central Texas,” said Carl Settles Jr., board chair of Rally Austin and CEO of E4 Youth. “Since founding the organization in 2020, our goal has been to take on and complete real estate projects that cultivate the creativity and shared prosperity that make Austin a special place to belong.”
Rally Austin is currently leading community-centered vision and development work for Blocks 16 and 18 on East 11th Street in the African American Cultural Heritage District. Development of Blocks 16 and 18—intended to complete the vision for the district as a significant, vibrant mixed-use gateway between East Austin and downtown—has been under discussion since 1999. Rally Austin, on behalf of the Urban Renewal Board of the City of Austin, connected key stakeholders and underwent a community engagement and site analysis process to initiate a development plan that prioritizes building thriving small businesses, cultural anchors and affordable housing that reinforce the district’s identity and heritage.
Rally Austin’s portfolio also includes identifying high-priority projects and negotiating sustainable real estate solutions through the Austin Cultural Trust to preserve historic and iconic cultural buildings and create new spaces for creative and cultural uses. In 2023, the organization successfully negotiated a 20-year lease extension for The Hole in the Wall, a beloved music venue that has served The University of Texas at Austin community since the early 1970s. Faced with unsecured short-term lease renewals, rising monthly rent and property tax extensions, The Hole in the Wall was at risk of shutting its doors before Rally Austin stepped in as a facilitator between local government officials and property owners to forge a long-term solution that maintained the Austin institution. Rally Austin is continuing to work in this capacity, evaluating and negotiating additional potential projects to deliver similar outcomes.
“Every place should reflect the people who call it home. What makes Austin special—and what has made it a magnet for creatives, thinkers and visionaries for decades—is our ability to work together to build a region that supports and reflects our community’s needs and values,” said Theresa Alvarez, president and CEO of Rally Austin. “Rally Austin’s work focuses on complex projects that we will need to rally around to deliver equitable outcomes, those that will continue to cultivate Austin’s thriving arts and cultural scene, and those creative partnerships to deliver inclusive community benefits from large-scale and ambitious development in Central Texas.”
To learn more, visit the Rally Austin website.
About Rally Austin
Rally Austin, formerly the Austin Economic Development Corporation, is a real estate nonprofit formed to facilitate development projects that foster equitable and inclusive economic growth. Rally challenges traditional growth and development by championing and centering local communities in its pursuit of a culturally resilient and economically integrated Austin. Its call to action is to serve for purpose instead of profit, infusing real estate development with trust, integrity and strategic collaboration. Rally works collaboratively with public institutions, private real estate developers and regional stakeholders to undertake real estate development projects with clear community connections and benefits. To learn more about Rally Austin, visit www.rallyaustin.org.
