Austin’s City Council has approved new measures to incentivize affordable housing in the city. The new density bonus program, called DBC, replaces the previous DB90 program and allows for more varied building heights and affordable housing options.
Affordable Housing Incentives
DBC can be used in commercial areas across Austin and includes five tiers of building heights, with a lower affordability threshold than previous programs. Developments using DBC must contribute affordable housing, with at least 10% of for-sale residential units reserved for owners earning up to 80% of the local median family income.
The city has also updated its Downtown Density Bonus Program, which requires affordable housing contributions for new high-rises built downtown. The updated program includes new height limits and allows for fee payments instead of providing new units.
Impact on Housing Affordability
City planners believe that DBC will have a positive effect on housing affordability in Austin. The program is designed to produce more housing for lower-income levels, with a focus on preserving existing affordable housing and limiting negative impacts on tenants.
Original reporting: Community Impact — Austin — read the source article.
