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Affordability Unlocked Development Bonus Program Applicant Guide

City Of Austin   
Urban | |
Austin’s “Affordability Unlocked” program provides waivers and bonuses in exchange for setting aside at least 50% of a new development’s units for a minimum of 40 years for rental and 99 years for ownership units. In rental units, 20% of all units must meet 50% AMI and affordable units must be affordable to households at 60% AMI or below to qualify. 25% of affordable units must either (a) have two or more bedrooms, (b) serve as supportive housing, or (c) serve as elderly housing. For sale units, affordable unit prices must be affordable to households at 80% AMI or below. Otherwise, the same requirements as rental units apply. If developments fulfill these requirements, they may receive height, setback, FAR, minimum site area, and dwelling unit occupancy waivers.