An old medical building at the corner of 12th and Red River that was recently purchased by the city could be turned into affordable housing, the Austin American Statesman reports.
Some city council members have proposed turning the 88,000 square foot building into apartments for Austinites making 60 percent or less of the average income in Austin, which was $47,000 for a family of four in 2016.
The Austin City Council is scheduled to vote today on a resolution put forth by council member Ora Houston that would direct city employees to look into what work would be required to transform the building from its current floorplan to apartments, as well as what such work would cost. Houston represents District 1, which includes the site.
The building was formerly owned by HealthSouth, but the land was already owned by the city. The city bought the building and parking garage for $6.5 million. The land is between the proposed Hotel Mirabeau, which will be 33 stories, and University Medical Center Brackenridge, which will be redeveloped by the Travis County hospital district once Dell Seton Medical Center at the University of Texas is complete.
The Austin City Council is grappling with how to tackle Austin’s increasingly high cost of living. The average rent is now $1,224.
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