Development
BY BEN THOMPSON
New housing being added under city of Austin’s HOME policies
The rst multiunit housing projects under Austin’s Home Ownership for Middle-income Empowerment, or HOME, rules are being completed a year after City Council’s rst vote for the initiative. So far, the new policies’ e ects on a ordability and other housing trends are unclear with city reporting on HOME’s impacts and homeowner assistance options yet to be released. The setup Council approved HOME Phase 1, allowing up to three housing units on single-family lots, last December. That was followed by o cials’ May vote for Phase 2, cutting Austin’s minimum residential lot size requirement by about two-thirds. A three-unit South Austin project from Carr Resi- dential was billed as the rst to hit the market. Phase 2’s smaller lot sizes have drawn less interest. The conditions HOME came with several mandates for city
One of the rst three-unit housing projects was completed under Austin’s HOME regulations in South Austin this fall.
BEN THOMPSON/COMMUNITY IMPACT
analysis of the policies and potential resident assis- tance. Broader annual reporting on HOME’s impacts will be required going forward. A study into potentially limiting the regulations in areas at higher displacement risk is also taking place. A city consultant started work this fall and recom- mendations will be shared by the summer.
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ARBORETUM 10515 North Mopac Expressway (512) 342-6893 HIGHLAND
NORTH LAMAR 914 North Lamar (512) 214-6665
5775 Airport Blvd (512) 366-8300
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