"New city zoning program that uses density as carrot to encourage affordable housing proving popular so far"
Posted by Grossman & Jones Group on
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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