Austin Council Proposes Multi-Family Affordable Housing Program
A new city program dubbed “Opportunity Unlocked” will allow Austin developers to build multi-family housing on single-family zoned lots, provided they make some of the units affordable, reports Jonathan Lee in the Austin Monitor.
“Unlike other density bonus programs, Opportunity Unlocked ties requirements to bedrooms instead of units – a move aimed at incentivizing developers to build affordable homes for families.” The units would be available to households making up to 120 percent of Area Median Income (AMI). According to Lee, “Requiring deeper affordability could mean fewer units – a trade-off Alter said Council should discuss further.”
The program is designed to encourage the construction of larger units built for families. “The new homes would be similar in scale to existing homes and could include detached homes, townhomes, tri- or quadplexes, or similar building types.”
A resolution passed by the city council in favor of the program requires city staff to develop a detailed draft ordinance by this fall.