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Editor’s note: The video above shows KXAN News’ morning top headlines for Monday, March 18, 2024.
AUSTIN (KXAN) — Austin leaders are considering investing 107 acres to enhance affordable housing resources near Project Connect’s planned light rail system.
The Austin City Council is scheduled to vote on the purchase during Thursday’s meeting, Mayor Kirk Watson confirmed in his weekly newsletter. The available land is located along Riverside Drive near the future Phase 1 light rail investment.
If the purchase is approved by Congress, the sticker price to authorize the land acquisition would be $87 million. Watson said the land is located on the former Tokyo Electron campus at 2400 Grove Blvd. Located in southeast Austin.
According to the proposed land use plan, the acquisition could support a transit-oriented neighborhood of approximately 1,100 residential units. Watson compared his envisioned plan to the existing Mueller District in east Austin.
“Think of something similar to the Mueller District, but purposefully built around public transit and with lessons learned about affordability and other challenges in high-demand planned communities. ,” Watson wrote.
Mr Watson also proposed the possibility of creating housing facilities on site for employees, specifically industry workers such as airport staff and teachers, as well as officers undergoing fire, police and paramedic training. A warning was issued to the candidates.
“Proximity to public transportation creates tremendous opportunities for community benefit and access, and truly makes the most of voter-approved investments in affordable housing and transportation.” ” Watson wrote in part. “It also means more residents will be able to get around town without a car.”
The proposed land acquisition items come in part as city leaders pursue goals outlined in Austin’s 2017 Strategic Housing Plan. The plan states a goal of building 135,000 homes by 2028, including 75,000 market-rate homes and 75,000 homes with varying levels of public subsidies. It includes 60,000 units of affordable housing.
Watson said funding for the proposed purchase would come from voter-approved affordable housing funds and displacement funds allocated through the Project Connect program.
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