Austin's $350M Affordable Housing Bond Approved

Austin OKs $350M affordable housing bond

bizjournals bizjournals | 1 year ago

Austin voted in favor of a $350 million affordable housing bond Tuesday night. This is the city’s largest housing bond to date. For an owner of a $400,000 home, that would mean an increase in your annual property tax bill of about $53, according to the city. For landowners, developers and affordable housing players, it also means business opportunities tied to one of Austin's biggest economic threats. The city of Austin Proposition A reads: “The issuance of $350,000,000 in tax-supporte...

$350M affordable housing bond OK'd for November ballot

bizjournals bizjournals | 1 year ago

Austin City Council on July 28 approved putting an affordable housing bond package on the November ballot, asking voters to consider authorizing $350 million in funding in a city beset with rapidly rising real estate prices and rents. It would be the largest bond of its kind up for a vote in city history.

Calls mount for $300M affordable housing bond in Austin

bizjournals bizjournals | 1 year ago

A majority of Austin City Council members have added their voices to calls for the city to put a $300 million affordable housing bond package on the November ballot. During a July 21 launch event for the campaign at the Jordan at Mueller, an affordable apartment community in North Austin, government and nonprofit leaders expressed support for the effort. Meanwhile, the Save Austin Now PAC came out against the idea, saying it would make the city less affordable by issuing more debt. Dive into the...

Florida's Orange County OKs plan to add more affordable housing

bizjournals bizjournals | 1 year ago

About 48% of the people who live in metro Orlando spend 30%-50% of their income on their housing.

Coalition calls for affordable housing referendum in Austin

bizjournals bizjournals | 1 year ago

A group of housing advocates, nonprofits and businesses are all part of a push calling for Austin City Council to pursue additional borrowing to build more affordable housing.

East Austin could get badly needed affordable housing

bizjournals bizjournals | 1 year ago

In the newest development from The Geyser Group, half of the 250 apartments could be designated affordable, giving the company access to denser building opportunities through Austin's Affordability Unlocked program. Click through to learn more about that city program as well as this latest project.

Meeting 'a dramatic need': Investors aim to make Austin housing more affordable for thousands

bizjournals bizjournals | 1 year ago

With a huge challenge like housing affordability, it's easy to feel like the problem is too big to tackle. This organization is stepping up and funneling investor money into units that can be rented out below market rate. The effort has attracted the support, and cash, of some major Austin business people. Also included with this story: ABJ's latest list of new apartment towers and complexes.

South Austin gets affordable housing aimed at missing middle

bizjournals bizjournals | 1 year ago

The 23 townhomes will be available to purchase at prices aimed to be affordable by those making 80% of the average median family income.

BigAustin, BofA to bring affordable housing, workforce development center to Northeast Austin

bizjournals bizjournals | 1 year ago

With support from Bank of America, the nonprofit community development organization BigAustin plans to make a splash with a new headquarters and housing complex on the north side of town. The group's leader says it is dedicated to creating "meaningful opportunities to support entrepreneurs and job seekers in those areas with the fewest resources and housing options."