Housing group surveying housing options in Austin

Published 6:27 pm Friday, October 29, 2021

The Counselors of Real Estate’s CRE Consulting Corps is coming to Austin next week to explore housing challenges.

The City of Austin is interested in increasing housing options and improving the existing housing stock and has asked The Counselors of Real Estate to assemble a team of expert housing and development consultants and practitioners to analyze the city’s housing situation and present feasible, action-oriented tools and solutions.

While housing studies in recent years indicated demand at a range of price points, the gap between cost of development and the sales value upon completion is a significant barrier to new construction of single family homes and apartments.

In addition, the existing housing stock is aging and in need of improvement and preservation; furthermore, these factors have been exacerbated by the COVID-19 pandemic which has led to higher costs of construction and materials. More housing production (ownership and rental) is needed to meet community needs and to support continued business growth.

The Consulting Corps will bring its unbiased, objective perspective to identify the current hurdles to new housing in the city, public and private financial tools, best practices from other communities, and present action-oriented tools and solutions specifically targeted to increase housing options and improve Austin’s existing housing stock.

The team will present a plan of action as well as critical path to implementation.

Attendees

• Steve Price, CRE, Terra Property Analytics, LLC, Seattle – team lead

• Brett Pelletier, CRE, Kirk & Company: Real Estate Counselors, Boston (remote)

• Doug Prickett, CRE, Transwestern Investment Group, Dallas

• Wendy Timm, CRE, Timm Real Estate Consultants, Keystone

• Nick Tillema, CRE, Access Valuation, LLC, Indianapolis