"46K new housing units possible on unlocked Austin land — but zoning change doesn't go far enough, builder says"Posted by Grossman & Jones Group on
Austin Business Journal reports, "builders in Austin can now take advantage of a change in city code that will allow for the development of residential properties on land zoned for commercial use.
The change to the land development code, which Austin City Council approved on Dec. 2, carries major implications for real estate firms, significantly expanding the market for development. It also represents another avenue for cutting into Austin's housing shortage: city staffers previously estimated this decision could allow for the creation of 46,324 new homes.
Developers will still need to apply to build residential projects in commercial areas and will have to meet certain criteria, including around affordability. The change incentivizes the…
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