Austin, Texas Launches Second Phase of ‘HOME’ Initiative
In a bid to boost housing affordability in the region, the city of Austin has rolled out the second phase of its HOME initiative, short for Home Options for Middle-income Empowerment. As part of this program, Austin residents can apply for land use changes that facilitate the development of smaller homes or additional units on existing property lots. The application process for HOME part two opened on Friday.
The Changing Housing Landscape of Austin
Over a hundred people, including local businessman Scott Turner, have already taken advantage of HOME part one, the first wave of land development code changes. Turner is set to construct a 260-square-foot tiny home – a construction previously prohibited under older city laws. He expressed optimism about the affordability of new housing under the adjusted laws, saying, “I should be able to sell that tiny home at a price that I haven’t been able to sell anything at for many, many years.”
The most significant aspects of the HOME part one initiative include an uptick in the number of units allowed per single-family lot, the sanctioning of tiny homes as legitimate housing units, as well as a bonus program encouraging the preservation of existing homes on lots. So far, around 162 applications have been lodged under HOME part one. An approval of all these applications could see over 300 new housing units cropping up in Austin.
A Look into HOME Part Two
Following the successful approval and implementation of the first phase, Austin City Council has now unveiled the second phase of the HOME initiative, labeled HOME part two. This phase primarily zeroes in on the minimum lot size needed for a single housing unit. By reducing this requirement, the initiative hopes to enable the creation of more housing units. Under the new rules, the previously required minimum of 5,750 sq. ft per unit is slashed down to 1,800 sq. ft.
The application process for HOME part two commenced on Friday, but as some property owners have hinted, it may not be as popular as its predecessor. The hefty upfront cost of subdividing lots – an expense Todd estimates at around $100,000 – combined with a lengthy approval process, may prove to be deterrents. However, Todd remains hopeful about the long-term impact of the initiative, saying, “It’s going to put a lot of pressure on the city to really simplify and clean up its development approval process.”
As per the city plan, applications for the second phase of the HOME initiative will be rolled out in two stages – the first wave available now, and a second wave to be rolled out in November. The second rollout will cover items that need to be addressed in terms of fire safety and displacement protections.
Undeniably, the implementation of the HOME initiative symbolizes a significant step in the city’s journey of making affordable homes available to a larger section of society. However, how the residents of Austin navigate these new codes and updates, alongside their financial and logistical implications is a journey that remains to be seen.