With Austin voters about to decide whether the city commits $250 million to increase the local supply of affordable housing, a real estate research group has come out in strong support of cultural land trusts as a tool to prevent rapid escalation of land prices. The Urban Land Institute Austin recently released an extensive white […]
affordable housing
This general term refers to housing that is affordable to Austinites, with or without subsidy.
Posted inHousing
‘Prop A’ could bring unprecedented investment in affordable housing in Austin
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 […]
Posted inReporters' Notebook
Reporter’s Notebook: The next wave of humanity
Visit commission meetings… The fractious nature of the city’s newly convened Tourism Commission brought about consideration Monday of amending the group’s bylaws, with the possibility of requiring at least seven votes to approve recommendations that would be forwarded to City Council for possible action. Commissioner Michael Cannatti’s suggestion is based on ingrained differences of opinion […]
Posted inHousing
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 […]
Posted inHousing
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 […]
Posted inHousing
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 […]
Posted inDevelopment
Council to put off hearing on tax credit property
At the request of Council Member Delia Garza, on Thursday City Council will likely postpone a scheduled hearing and consideration of whether to give the city’s blessing to 4 percent affordable housing tax credits to a proposed apartment complex for low-income seniors. At the Council work session on Tuesday, Garza said she has to leave […]
Posted inHousing
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 […]
Posted inZoning
Powell Lane apartments win first-round OK
City Council last week unanimously approved on first reading a zoning change for 8 acres in North Central Austin with just a few questions and little discussion. The developer’s representative, Alice Glasco, said the magic words – affordable housing – so regardless of neighborhood objections, Council will likely grant a minimal zoning change when the […]
Posted inHousing
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 […]
Posted inHousing
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 […]
Posted inHousing
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 […]