AUSTIN (KXAN) — People “overwhelmingly” wish to see extra affordable housing – with the precedence given to individuals working in the healthcare, hospitality and repair industries, in response to a neighborhood affect survey referenced in a new City of Austin memo.
In response, the City Manager’s Office had made an official really useful to transform at the least a part of the previous HealthSouth property into affordable housing. The land is on the nook of Red River and twelfth Streets, strolling distance from Dell Seton and the guts of downtown.
This is rooted in the Austin City Council’s precedence for “mixed-income housing affordable to households at or below 60% Median Family Income,” in response to the memo.
Below are the outcomes from a survey of 396 individuals, the place metropolis workers requested “What three neighborhood makes use of would you be excited to see on this web site?
“Current market conditions present unique challenges to the immediate redevelopment of the site,” the memo reads. “In addition to increasing development costs (e.g., labor, materials, and financing), there is a large pipeline of market residential units in the downtown area.”
City workers mentioned there are presently greater than 3,000 multifamily models underneath building downtown.
“In comparability, there are comparatively few affordable housing alternatives in downtown Austin,
the memo continued.
Regarding the remainder of the property, workers really useful ready to decide “while closely monitoring market conditions.” One of the parcels has fewer restrictions, so there are extra choices in terms of what the town can construct there.
The memo additionally states “there are a variety of planned and future construction projects in the immediate surrounding neighborhood that could impact access, property value, and connectivity with respect to the 606 E. 12th Street parcel.”
