Austin City Council receives Couselors of Real Estate report at Monday work session

The Counselors of Real Estate Consulting Corps was asked by the city of Austin to conduct research, provide analysis, and make comments and recommendations pertaining to the current single family and multifamily homeownership and rental housing markets in the city.  The Corps’ team visited Austin in early November 2021, and their report was presented to the Austin City Council at a work session following their regularly scheduled meeting Monday evening.  Austin Mayor Steve King spoke with KAUS during the “Meet the Mayor” segment of “Wright Here, Right Now” and stated that the report shows points of both promise and concern…

Mayor King went on to state that the report lauded the affordability of houses in the city of Austin…

The 45-page report analyzed various housing sectors in Austin, including new construction single family and plat development, existing owner-occupied single family, existing single-family rentals and new construction multi-family rentals.  

The Corps suggested several recommendations for the city of Austin in the report, including the city implementing programs to encourage and incentivize renovations of existing single family homes, marketing the community amenities, low costs and existing opportunities to single family builders developing homes in nearby Minnesota communities to encourage single-family development, and tracking the single-family rental stock more closely and initiate performance and benchmarking to help improve quality and modernize the inventory.

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