Southwest Austin | Dripping Springs - May 2022

City offers update one year after camping ban re-enacted

Austin developer announces $12.8B sale to Blackstone

$12.8B SALE

Blackstone will purchase American Campus Communities, which manages 14 student housing complexes in Austin.

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BY GLORIE MARTINEZ

WEST CAMPUS

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W. 28TH ST.

One year after Austin voters elected to reinstate a public camping ban, Dianna Grey, Austin Home- less Strategy Division strategy officer, updated the public May 2-3 on the city’s progress. Since May 2021, over 200 prop B citations have been issued, Grey said. Through the Housing-Fo- cused Encampment Assistance Link—an initiative that aims to move people from sites that pose health and safety risks—eight camps have been cleared and about 250 people moved to shelters.

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BY BEN THOMPSON & JOE WARNER

1 26 West 2 Crest at Pearl 3 Texan 4 The Block-23rd

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Austin-based American Cam- pus Communities Inc. will sell its student housing real estate development, construction and management company to Blackstone for $12.8 billion, in a deal announced April 19. In Austin, ACC’s portfolio includes 14 housing complexes in the West Campus area home to hundreds of beds and valued together at more than $520 million as of 2022. According to a press release, the transaction was unanimously approved by ACC’s board of directors and is expected to close in the third quarter of 2022. ACC declined to comment further on the announcement

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5 The Block-25th East 6 The Block-25th West 7 The Block-28th St. 8 The Block-Leon 9 The Block-Pearl North 10 The Block-Pearl South 11 The Block-Rio 12 The Callaway House 13 The Castillian 14 Vintage

W. 22 1/2 ST.

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PUBLIC CAMPING BAN

Austin voters reinstated the camping ban about one year ago.

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Austin voters reinstate ban MAY 1, 2021 City votes to invest $100M in homelessness strategy JUNE 2021 First camping citation is issued

SOURCE: AMERICAN CAMPUS COMMUNITIES/ COMMUNITY IMPACT NEWSPAPER

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April 19. However, in letters to its partner universities, includ- ing The University of Texas, the company said its work with student housing development

is not expected to be affected after going private. ACC also owns or manages multiple properties at neighbor- ing universities.

AS OF APRIL 22, 2022

More than 200 citations are issued, eight camps cleaned up through HEAL

SOURCE: CITY OF AUSTIN/COMMUNITY IMPACT NEWSPAPER

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SOUTHWEST AUSTIN - DRIPPING SPRINGS EDITION • MAY 2022

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