Since late 2019, developers who deliver affordable housing units in Austin have received bonuses in height, density, parking, and other regulatory metrics, leading to a large number of new affordable housing units in the pipeline.
"A city bonus program to spur more affordable housing has already played a role in several income-restricted projects across Austin," reports Daniel Salazar.
Austin Neighborhood Housing and Community Development Department staff reported progress on the Affordability Unlocked program recently to the City Council, reporting thousands of units since the program launched in November 2019.
"As of Sept. 3, 26 applications have been certified out of 46 total applications. Most of the certified projects – 69 percent – are rental developments," reports Salazar. In total, the Neighborhood Housing and Community Development Department has certified a total of 2,721 units in projects under the program, including 2,337 affordable units.
The Affordability Unlocked program "offers waivers or easements on height, density, parking, compatibility and other development regulations in exchange for high percentages of affordable units," according to Salazar's explanation.
Planetizen picked up the news of the Affordability Unlocked program's approval in May 2019.
Read the full story: Thousands of potential units in projects certified so far under Affordability Unlocked program
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