Luxe Austin Homes - rezoning

"New city zoning program that uses density as carrot to encourage affordable housing proving popular so far"

Posted by Grossman & Jones Group on October 21st, 2024

Austin Business Journal writes, "It will take time and it won't help everywhere, but a new zoning designation should boost the supply of housing in Austin.

That's the view of a number of developers when it comes to the so-called Density Bonus 90, or DB90, zoning program approved by the City Council in February. Residential buildings on properties with the new zoning can be up to 90 feet high — 30 feet higher than otherwise allowed — and have ground floor commercial uses, provided certain percentages of the residential units are priced at levels deemed affordable.

“It's unlocking additional properties that couldn't previously achieve the necessary density,” said Chris Affinito a managing partner at Notional Development Partners, a firm that…

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"Blackstone eyes massive multifamily development in North Austin"

Posted by Grossman & Jones Group on January 30th, 2024

TheRealDeal reports, "a Blackstone subsidiary is gearing up for a big multifamily project in North Austin.

Link Logistics Real Estate Management, led by CEO Luke Petherbridge, filed to rezone the  6-acre site at 11209 Metric Boulevard to allow for a five-story complex with nearly 500 units, the Austin Business Journal reported. 

The project, called LL Braker, according to city filings, is also slated for 5,000 square feet of retail space and structured parking. It’s unclear if the residential units will be apartments or condos. A one-story warehouse, built in the 1980s and spanning 85,000 square feet, would be demolished for the project.

Link Logistics is requesting to change the property’s industrial zoning designation to allow…

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"North Austin Radisson hotel nears redevelopment; hundreds of new apartments to flank it"

Posted by Grossman & Jones Group on January 18th, 2024

Austin Business Journal reports, "an Austin hotel is planned for redevelopment as part of a project expected to create hundreds of new homes north of downtown.

At the vacant Radisson Hotel Austin - University, developers plan to renovate the existing 298-room hotel and aim to raise as many as 1,000 new apartments and add 40,000 square feet of commercial space to the site, according to a rezoning request moving through City Hall.

The property at 6121 N. I-35, owned by ASAP Austin LLC, rests between the St. John and Coronado Hills neighborhoods. The roughly 8-acre site is at the northeast corner of I-35 and U.S. Highway 290. It is valued at $22 million by the Travis Central Appraisal District.

The hotel will be rebranded to Delta by Marriott,…

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"Pilot program could make zoning reviews more predictable, Austin staffers say"

Posted by Grossman & Jones Group on October 4th, 2023

Austin Business Journal reports, "a pilot program intended to improve Austin's rezoning process is set to be considered by City Council.

The six-month pilot program would extend deadlines for zoning and rezoning applications in addition to neighborhood plan applications with the intention of giving developers and landowners more time to refine their requests and avoid potentially missing a deadline that would require them to start the process from the beginning.

For example, land use cases will be extended from a 60-day consideration period to 120 days while whole neighborhood plan amendments will increase from 90 days to 120.

Jordan Feldman, a principal planner with the city, said the proposed changes would decrease the need for staff…

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"Wildhorn Capital aims to develop 2,000-plus apartments off East Riverside"

Posted by Grossman & Jones Group on August 14th, 2023

Austin Business Journal shares, "Austin-based real estate investment firm Wildhorn Capital LLC is moving forward with plans to redevelop hundreds of South Austin apartments. It could quadruple the number of residences on the site, potentially bringing more change to a busy pocket of the city and ramping up the debate over affordable housing.

The company wants City Hall to rezone the 530 units at 2207 Wickersham Lane and 2239 Cromwell Circle, which appear to be complexes called Hillside Villas and The Patten, and raise the site's building height limit from 40 feet to as high as 120 feet. The change would clear the way for the boutique investment firm to create 2,100 apartments in an area close to downtown, Austin-Bergstrom International Airport and…

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"More housing could be headed to Lakeway"

Posted by Grossman & Jones Group on August 7th, 2023

Austin Business Journal reports, "Lakeway City Council must decide whether to rezone a 33.9-acre tract and clear the way for a largely residential community in the city.

At an Aug. 2 meeting, Lakeway’s Zoning and Planning Commission voted unanimously to recommend the rezoning to Council. The proposed change would see the tract switch from single-family temp zoning to a planned unit development, according to the meeting agenda.

Housing developer Cascade Homes LLC made the rezoning request for the Balcones Point PUD on behalf of the property owners, the MB Winborn Trust and Gregory & Kenneth Winborn Irrevocable Trust.

It was not clear when Council could vote on the rezoning. It typically meets on the third Monday of each month.

If built, the…

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