Thank you @cocomomo! I love Austin (I went to UT for my undergrad), so in terms of the city and school, it's an awesome place to be. Why I'm not opting for UT: I just wanted to expand my horizons, have new experiences, and see a new place, I've lived in Texas all my life so I decided nows a good time as any to go to just as good of a school in CU.
If you've never been to Austin, its a very eccentric, fun, and awesome place to be if you like a big city but also has everything you might find in the country with nature trails basically in downtown, rivers all over, and friendly people everywhere.
For the department: the aero and mech departments actually don't overlap much here so I'm probably not the best help in terms of the details, but the few mechanical engineers I do know had no problems finding internships/jobs at NASA, GM, Union Pacific, and research labs. Also I know they recently renovated parts of their building, and definitely seem like they're always working on cool stuff in there (like multiple types of cars, drones, wind tunnels, etc.).
Thats just a quick summary, but I'd be happy to elaborate on anything if you have any other specific questions about it