Austin voters will decide this November on the fate of seven bond propositions totaling $925 million. Proposition A asks voters to decide on a $250 million bond for affordable housing. If approved, the proposition would provide money for the city to build, repair and maintain existing affordable housing throughout Austin. Here’s the breakdown of how that money potentially would […]
Housing
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Council debates how to convert downtown property into affordable housing
Almost every member of City Council agrees that the city should use two pieces of prime downtown real estate for affordable housing. However, questions and potential disagreements remain about how the land should be used to provide housing. Some Council members are adamant that the city partner with a developer to build housing on the […]
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Resolution would start push for affordable housing on former HealthSouth property
On Thursday, City Council will vote on taking the first step in redeveloping the former HealthSouth property on Red River Street, which has been identified by many as a potential site for the city to create affordable housing units. At Tuesday’s work session, Council members discussed the finer points of the request that will direct […]
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With first acquisition, workforce housing fund looks for capital to grow
A real estate investment fund aimed at preserving Austin’s fast-disappearing supply of workforce housing announced the acquisition of its first 308-unit rental property in North Austin. The Austin Housing Conservancy recently closed on the Preserve at Wells Branch in a deal that saw the Austin Affordable Housing Corporation and the Community Development Trust join with […]
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Low-income housing project advancing in Northwest Austin
An affordable housing development that has drawn fierce opposition from nearby residents in North Austin is one step closer to realization. The proposed Elysium Grand apartments at 3300 Oak Creek Drive, just west of MoPac Expressway, will include 90 units. Only 21 units will have no income restrictions, while 17 will be restricted to households […]
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Fewer Austin residents are burdened by housing costs, but many still struggle
Austin is slowly making progress toward becoming a more affordable city, according to a new analysis, but many residents are still finding it difficult to pay for housing. The report released Wednesday by the nonprofit HousingWorks Austin finds that compared to last year, slightly fewer Austin families are housing cost-burdened. The federal government recommends that […]
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Affordable housing crisis: To conserve or to create?
As Austin struggles with an ongoing shortage of affordable housing, some housing activists and elected officials believe the city’s top priority should be creating new housing, both by allowing the market to build new units that target various income levels and by spending city funds to build subsidized housing for low-income residents. Others argue that […]
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As hotels and short-term rentals grow, a look at their impact on Austin
With Austin on pace to have more than 13,000 hotel rooms in the downtown core by 2020 – nearly double the number of rooms in 2014 – the construction of new chain and boutique hotels continues to have an impact in local business and political spheres. On the other side of the hospitality coin is […]
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How can Austin incentivize affordable housing?
Members of City Council believe it’s time for a change to the city’s density bonus programs. Currently, Austin has 13 “development incentive programs” that offer developers additional building entitlements if they provide a certain amount of housing that is affordable to lower-income people. State law does not allow the city to mandate a certain number […]
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HealthSouth site gets top spot in ULI affordable housing study
An analysis of some of the city’s most-prized parcels of land has found that the former HealthSouth property downtown would have the biggest impact on the local housing shortage if the property were converted to affordable housing. The new white paper from the Urban Land Institute of Austin looked at five parcels located throughout Austin […]
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East Austin affordable housing resident advocates for better living conditions
Candace Hunter applied to live at the Reserve at Springdale as soon as she could. When the nearly 300-unit property was completed last year, it brought much-needed affordable housing to East Austin. Within the year, the complex – which houses Austinites earning 60 percent or less of median family income ($51,600 annually for a family […]
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County commissioners see SH-45 development as key to more affordable housing
On Tuesday, the Travis County Commissioners Court received an update on Turner’s Crossing, a proposed mixed-use subdivision that would be located about 15 miles south of downtown Austin. The project will make use of a public improvement district to fund more services and infrastructure for itself. It is also expected to provide benefits to Travis […]