Thursday, November 3, 2016

Public Lands Could Hold Key to Housing Shortage

It’s no secret that there’s a shortage of housing in Austin.  The Austin Business Journal reports on the Real Estate Council of Austin’s (RECA) idea for using publicly owned land to build more housing.

RECA’s report on the housing shortage situation found that 15,000 units of housing need to added to Austin’s supply annually to handle the population boom.  Only 12,000 units were delivered in 2015 across the entire metro region.  

While the city tends to talk about affordable housing in terms of subsidies and government solutions, RECA says this is a problem that can be tackled through increasing supply by changing policies.   

In just Austin, public entities like the city, AISD, ACC, and Travis County, own 6,154 lots with a gross taxable value of over $15 billion.  

RECA asks the government to come up with a plan for returning those properties to the tax rolls and making them available to developers to buy to increase housing supply in Austin, making it more affordable to everyone, both renters and homeowners.

Trying to find an apartment in Austin’s tight rental market?  Don’t worry, A Plus Apartments can help!  Give us a call at 512-231-1400 so we can help you find your next home today!