Town staffers have recommended moving ahead with a proposal from Greystar Growth and the Housing Authority of the Metropolis of Austin for the redevelopment of the 19-acre East Austin site greatest acknowledged as the property of a very long-shut and decaying House Depot retail outlet.
In a memo circulated this week, Sylnovia Holt-Rabb, performing director of the Economic Enhancement Division, laid out the parameters of the proposal and the case for getting into into an exceptional negotiating agreement with Greystar and HACA instead of the other 4 groups that confirmed fascination in the venture.
The proposal, which is envisioned to change as the metropolis and builders access a remaining offer, calls for 560 housing models, with 50 % of those people made available at charges very affordable for those people earning between 50 and 70 percent of the median relatives profits for the Austin location. The web page would triple its latest parkland and open up area and include 15,000 sq. ft of retail room dependent on neighborhood needs along with place for supportive companies this kind of as overall health care, occupation schooling, youngster treatment and modest-business enterprise incubation.
Known in the course of the metropolis as the House Depot internet site or the St. John site, the home has very long been regarded the solution to a selection of city needs, from housing for the homeless to imaginative areas and arts and new music venues.
Individuals makes use of weren’t authorized, on the other hand, because the metropolis