The Austin City Council has approved the purchase of more than 100 acres in southeast Austin for a future mixed-use development.
AUSTIN, Texas — The Austin City Council on Thursday approved the purchase of the current Tokyo Electron campus and surrounding property to be used for a future mixed-use development. The acquisition will cost the city $87 million.
"The acquisition will enable the City of Austin’s Housing Department to develop additional income-restricted units close to transit and other community amenities promoted by Project Connect investments," the city said."The remaining $60 million will be funded through bonds backed by property tax revenue.
"This was a rare, generational opportunity to purchase a huge swath of mostly undeveloped land centrally located in Austin," Assistant City Manager Veronica Briseño said."In addition to much-needed administrative offices for critical City services, we have the chance to create not just affordable housing, but an entire community with space for commercial and cultural endeavors.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
City Council looking forward to selecting Austin's next City ManagerThe City of Austin is moving forward with their search for a new, permanent, City Manager. They have narrowed down their search to three candidates.This week, M
Read more »
Austin Google workers learned of layoffs as City Council prepped public supportThe employees who worked for YouTube’s music content operations team were speaking to City Council when they began receiving text messages informing them the entire team was being laid off.
Read more »
Austin City Manager search moves forward without Brian Platt of Kansas CityThe City of Austin is moving forward with just two finalists for the permanent City Manager position, after Brian Platt, City Manager of Kansas City, confirmed
Read more »
Lack of action from Uvalde City Council against city police department prompts protests outside PD headquartersLack of action from Uvalde City Council against city police department prompts protests outside PD headquarters
Read more »
Denver City Council greenlights city raising up to $115M to buy Denver Post, Embassy Suites buildingsFour council members voted against the Denver Post building purchase financing on Monday with Shontel Lewis calling the deal a “terrible use of tax dollars.”
Read more »
Park Ridge city council contemplates future of city clerk positionAfter receiving feedback from Park Ridge residents that the city clerk’s role might not be necessary, Mayor Marty Maloney asked the clerk, Sal Raspanti, to make a presentation about the clerk…
Read more »