May 10, 2019

Affordability Unlocked density bonus program approved by Austin City Council last Thursday

From the Austin Monitor:

In keeping with its previous support of Council Member Greg Casar’s proposed density bonus program, City Council unanimously approved the Affordability Unlocked bonus program Thursday evening, an ordinance amending city code by loosening site restrictions and promoting construction of more units in affordable and mixed-income housing developments.

The program applies to developments without more than a quarter of space dedicated to commercial use in all base commercial and residential zoning districts as well as most special use zoning and overlay districts.

To participate in the program, developers must meet several baseline affordability criteria beyond the primary requirement that at least 50 percent of all units are income-restricted (defined as 60 percent median family income or below for rental units and 80 percent MFI for ownership developments).

For more information, contact David Glenn, Director of Government Relations and Policy at david@hbaaustin.com.