Some terrific comments and insights here. I just spent the last two days digging thru the zoning changes, talking with architects, developers, construction crews, other realtors, and driving thru (again) several neighborhoods going thru redevelopment.
This change is pretty dramatic. I’ll be listing some homes in the next few months that would be impacted by all this, so I’ve developed some strategies for helping sellers get max value from their sale.
I’m also now looking at it from the buyer side as an investor to put together some investments in the market over time.
It’s not a given that this will actually create much more affordable housing, but theoretically it should help. The opposing view is the trampling of personal property rights. And it would suck having a 9 unit mini-condo complex going up on your next door neighbor’s lot that was scraped. Because that could theoretically happen to most single family houses in Austin from what I understand.