RECA calls for more housing and more variety

Austin needs even more new housing than previously thought, according to findings from the Real Estate Council of Austin. RECA announced yesterday that in order to “tackle Austin’s affordability crisis” as well as “keep up with demand and create stability in the housing market,” a minimum of 15,000 new units need to be made available each year over the next decade. Last year, RECA argued through a series of publications that the number needed was 10,000 per year. The revision, according to the organization’s announcement, reflects updated population growth projections. The announcement notes that in 2015, the city permitted about 12,000 single- and multifamily residential units, falling shy of what is needed according to the updated estimates. RECA also warned that there is not enough variety in the types of housing being permitted, leaving a “so-called ‘missing middle’ between single-family homes and large apartment complexes,” a problem RECA blames on “the planning and zoning requirements put in place in many Austin neighborhoods.” More information on RECA’s analysis can be found here.