Affordable housing program launches in Austin
AUSTIN (KXAN) – A new City of Austin program to help small-scale real estate developers grow their businesses and create more affordable housing and job opportunities in the Austin area launched in July and will continue through October, organizers said Monday.
The Austin Housing Finance Corporation said 20 participants were selected for the Austin Small Developer Training Program.
It said the program, led by Capital Impact Partners and HousingWorks Austin, will provide small developers with training, mentorship, networking and potential pathways to financing for eligible real estate projects in Austin.
The city said in April the money for the program came from the City of Austin Housing Finance Corporation.
The Austin Small Developer Training provides opportunities to historically excluded and overlooked small-scale real estate developers, helping to create more affordable housing and job opportunities locally.
The city said participants will learn ways to find more attainable land opportunities for small-scale development and learn from zoning experts, who will walk through the process and best practices to avoid common delays and challenges.
“The Austin Small Developer Training program will empower each real estate developer to confront the top industry challenges faced in Austin,” said James May, Housing and Community Development Officer for the Austin Housing Finance Corporation. “We know these business strategies and industry connections will be critical resources to help bring more affordable housing investment throughout Austin.”
"The Small Developer Training Program strongly aligns with our mission to educate individuals about affordable housing and increase housing opportunities through new development, said Nora Linares-Moeller, Executive Director of HousingWorks Austin. “What better way to expand housing opportunities than training new developers to bring new perspectives and build needed affordable housing in Austin? We couldn't be more thrilled to be a part of this important endeavor for the city.”