Found 3 blog entries tagged as single-family lots.

To address persistent affordability challenges and expand housing options, it is imperative for elected officials, policymakers, and our community to review and revise existing land use regulations. GETTY IMAGES

Austin Business Journal writes, "Austin has a housing crisis with a lack of housing considered affordable to the majority of its residents. Professionals including teachers, EMS workers, firefighters and recent college graduates are being priced out of the communities they serve. Increasing mortgage rates, elevated home prices and limited inventory of affordable homes are some of the barriers to homeownership in Austin, particularly for would-be first-time buyers. To afford a $540,000 home, Austin’s median sales price in 2023, a household must make $180,000. This makes it extremely difficult for many to purchase a home here, driving them out of Austin and into the suburbs. The bottom line is that homeownership is unaffordable and unattainable to many…

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Small backyard homes are commonly called granny flats or accessory dwelling units. SPENCER BROWN

Austin Business Journal writes, "a new policy allowing up to three homes to be raised on some single-family lots is one of the most high-profile changes to Austin's land use code as it tries to combat high home prices and adopt a big-city mentality.

But experts said the program will not have a notable effect on the local housing market for the foreseeable future — plus, there's the specter of a lawsuit scaring some developers off.

The first phase of what's called the HOME Initiative launched Feb. 5. That's when homeowners and developers could start to submit applications. Landowners can either sell the new, smaller homes or they can rent them out. The impact of the change will only become measurable in the months and years to come, but the…

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Austin's new HOME Initiative allows the construction of up to three dwellings on single-family lots, similar to what's pictured above. PORTLAND PRESS HERALD

Austin Business Journal reports, "developers and homebuilders hoping to take advantage of a new program that will allow up to three residential units to be built on a lot currently zoned for one are about to get their chance.

That's because the HOME Initiative goes into effect Feb. 5, and those who are interested can start applying at that time.

Applications must be submitted through Austin's residential plan review process, according to a new city information hub devoted to the HOME Initiative, which stands for Home Options for Middle-income Empowerment.

The initiative allows the construction of up to three dwellings on lots currently zoned SF-1, SF-2 and SF-3. Most single-family homes in Austin fall into one of those zoning categories.

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