Low-income residents of a North Austin apartment complex are putting pressure on a developer intent on demolishing their homes, and they’re having some success in getting concessions. The Old Homestead, located on Clayton Lane near the intersection with Cameron Road, is set to be rezoned for vertical mixed use – meaning developers JCI Residential, an affiliate of the Journeyman Group, will be allowed more height and building size in exchange for affordable units. While the new property will have more units than the current 16-unit complex, residents say they’ll struggle to find apartments as affordable – or with a community so closely knit – amid Austin’s surging rental prices.
Austin Chronicle: Low-Income Austin Renters Negotiate For Better Deal
As high rents cause displacement, one group of renters negotiates.