Council Member Marc Duchen proposed a city fund aimed at preserving affordable housing in Austin, motivated by the need to help essential workers remain in the city. Referencing the Acacia Cliffs redevelopment as a catalyst for action, he emphasized the city's limitations once zoning changes are proposed. Inspired by Dallas's Housing Opportunity Fund, Duchen's initiative seeks to preemptively acquire aging properties before they are redeveloped, potentially starting with a $12 million commitment from unspent bonds and other sources to leverage further investment.
"How do we make sure that essential workers can stay in Austin? It's better that we've got system-wide and citywide tools that we're accessing well before something comes to a zoning case at Council to address this issue."
"Duchen has taken a policy page from Dallas, Texas, which launched the Dallas Housing Opportunity Fund in 2021 with a $6 million city grant intended to attract investment partners and preserve 5,000 affordable units."
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