Austin targets 2022 for purchase of large multifamily development using Project Connect anti-displacement funds "In February, the Austin City Council allocated $23 million to counter displacement resulting from Project Connect, the $7.1 billion investment in public transit. Now, the city is moving closer to putting those dollars to use, staff said during a Nov. 9 housing and planning committee meeting. As a part of the Project Connect package, voters approved $300 million in funding for anti-displacement efforts that aim to limit the rising housing costs that tend to follow significant public transit improvements. The $23 million approved in February will be the first step in using those funds." (Benton Graham, Community Impact)
Elon Musk's crew buys more land "Public documents show that an LLC tied to one of Musk’s top associates has purchased hundreds of acres just across the Colorado River from the rising $1.1. billion Tesla Inc. gigafactory." (Kathryn Hardison, Austin Business Journal)
Montopolis school for Black students reopened its doors as neighborhood fights for preservation "Montopolis Negro School, a segregation-era grade school for Black children, reopened its doors on Saturday, welcoming Montopolis residents new and old, including some former students, back to an alma mater that hasn’t operated as a school in 60 years. The Parks and Recreation Department hosted the open house to give community members an opportunity to envision how the space might be used in the future." (Willow Higgins, Austin Monitor)
One of the last undeveloped hilltops overlooking Lake Austin set for Four Seasons condo project "The project — called the Four Seasons Private Residences Lake Austin — calls for 179 high-end residences on the prime property at Shepherd Mountain." (Shonda Novak, Austin American-Statesman)
Affordable housing complex opens in Central Austin; local leaders hope more are on the way "On Wednesday, Travis County and nonprofit Travis County Housing Finance Corp. celebrated the grand opening of the Travis Flats apartments ... offering 146 apartment units that will mostly cater to residents at or below 60% of the metro area's median income." (Luz Moreno-Lozano, Austin American-Statesman)
New $1 billion project will power up 400 jobs in the Austin suburbs "Tesla isn’t the only driver of high-profile economic development activity in the Austin metro area. Southern California-based Chem-Energy Corp., whose specialties include petroleum products, unveiled plans November 10 to invest more than $1 billion to build a solar power storage plant and a battery power storage plant in Caldwell County." (John Egan, CultureMap Austin)
