Austin City Council on Wednesday received its first briefing on the housing projections for the second draft of CodeNEXT—the rewrite of the city’s land development code.
The presentation, put together by CodeNEXT sub-consultant Fregonese & Associates informed council members of the city’s new housing capacity, its council district distribution and affordability. The presentation on Wednesday will be the first of several held for city council as the city’s land use commissions analyze the second draft of CodeNEXT.
Here are the 6 takeaways from the meeting:
1. CodeNEXT Draft 2.0 increases the city’s housing capacity from 137,830 units to 160,687 units. A large portion of that increase, according to the consultants, results from the new draft’s allowance of residential units in zones that previously allowed only commercial uses. The capacity is calculated by assuming that each parcel of land is built out to its maximum entitlement.
2. Consultants forecast that 10,719 existing units would be subject to redevelopment under the second draft in order to reach the max 160,687 housing capacity. This is an increase from estimates of 10,483 units in the first draft and 7,038 in the existing zoning.
3. District 1 is predicted to carry 20 percent of the new housing capacity, or 32,231 units. District 8 is expected to carry the second most at 12 percent, or 19,481 units. District 4, 6, 7 and 10 combine for 23 percent of the new capacity, or 36,568 units.
4. Of the new units, just over 30,000 will be available for families between 50 percent and 80 percent of the area’s median family income, which, according to 2015 estimates, is $73,928. Just over 70,000 units are projected to be available for families between 80 percent and 120 percent MFI, and just over 60,000 will be available for families at over 120 percent MFI.
5. Fregonese estimates that 139,571 units will be within a quarter-mile of future and existing bus transit lines.
6. Staff is working to provide numbers on how many affordable units can be expected after the city overhauled its density-bonus programs and how many of those units would be located in each council district.