City Seeking Public Suggestions to Maximize Affordable Housing Construction through Proposed Affordable Housing Bonus Program
Austin, Texas - The City of Austin is seeking input to help maximize the amount of affordable housing achieved through the Affordable Housing Bonus Program proposed in “CodeNEXT,” the revision of Austin’s Land Development Code.
The Affordable Housing Bonus Program will allow developers to build more housing units at a location than allowed by the location’s base zoning in exchange for a portion of units being set aside as income-restricted affordable housing.
To maximize the possible affordable housing benefits, the City and its consultants are using models that help calculate the most efficient percentage of affordable units that can be required in a given area, while taking into account information on market conditions, development costs, and rental/sale prices. The City is seeking information from stakeholders to ensure the models take into account the most up-to-date and locally accurate information. The City is also seeking input on criteria for allowing projects in the program to meet their affordable housing requirement through an alternative to on-site units.