markhollin

The Reservoir, 12 to 4 stories, 3 dozen buildings, 1,200 residential units, office, retail, 8th Ave. South/Edgehill Ave./Hillside Ave.

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This will be a truly transformative project. Seems like Elmington has done its homework on laying the PR and political groundwork re:affordable housing.

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If you notice, we get a large project, we lose a large project. We can handle some of these projects depending on the make up of the project, i.e., housing units, affordable ,housing units, commercial, retail, and office.

Remember this is not approved yet and I predict the size  will be cut back because of neighbor concerns, Metro concerns, and market conditions. You can only fill so much residential and commercial space at any given time, especially at out current population growth. We are still not close to the Austin growth rate and other city growth rates during their booms. The population growth needs to be well above 2%, and we are not.

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I think developers that can find a way to make the math work for more affordable average rents are going to own the next couple of years. We've added a lot to the top of the market over the last few years but there's still plenty of unmet demand in the middle and bottom. Gotta get creative with location, materials, etc. though.

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