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Developers Capitalize on the Gentrifying South Austin Neighborhood with Low Income Housing Proposal

Greedy landlords will soon be taking 30% of people's paychecks for below-market rent. Market-rate rents will start at a ridiculous $1,500, soaring to over $3,000 a month. This is modern-day robbery.

Published August 13, 2024 at 9:04am by Shonda Novak

Headline: Austin's Housing Crisis: The Fight for Affordable Living

Building Austin

Newsletter Date: [insert date]

Another week, another slew of residential projects making headlines in our city. While new developments are always promising, we must scrutinize these plans to ensure they benefit the community, especially those most in need.

A former hotel in Northwest Austin will soon provide shelter for those transitioning from homelessness, offering a chance at a fresh start for our vulnerable neighbors. This is a step in the right direction, but we must ensure these "very low-income" apartments are truly accessible to those who need them most.

The development in Kyle, with its mix of single-family homes and apartments, could provide much-needed housing for a range of incomes. Still, we ought to question the inclusion of commercial and retail space, which could drive up rents and undermine the project's inclusivity.

Notional Development Partners' plan for the Dawson neighborhood is a breath of fresh air, with 50% of units at below-market rates. Tenants will pay no more than 30% of their gross income toward rent, a critical safeguard against displacement.

“We’re focused on bringing more workforce housing to Austin,” said Chris Affinito, president and founder of Notional Development Partners. “Rising rents have forced many people to live in the suburbs and have long commutes into town. Our teachers, medical workers, first responders, and others who serve such important roles for our community deserve to be able to live in our community.”

While Affinito's words ring true, we must hold developers accountable for their promises. Austinites deserve equitable access to housing, and we must remain vigilant to ensure these projects deliver on their affordability pledges.

For more details on the proposed project, read the full article here: [insert URL].

Stay woke, Austin.

Shonda Novak,

Real Estate Reporter, Austin-American Statesman

[Contact: 512.913.4503, snovak@statesman.com, @snovak999]