Austin has the highest development fees in Texas! It can cost a developer up to $18,168 to develop a single unit in a 200-home neighborhood!
https://www.bizjournals.com/austin/news/2022/07/21/fast-changing-regulations-fees-barriers-to-housing.html
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https://www.bizjournals.com/austin/news/2022/07/21/fast-changing-regulations-fees-barriers-to-housing.html
Quote:
Susan Nold, senior vice president of policy and external affairs with the Austin Chamber of Commerce, said Austinites are "clued in" to the problems with housing and would like to see them solved.
"We need to make it easier to build housing," Nold said. "If we are able to update our land development code, even if it's piece by piece, bit by bit, we allow the market to help us solve the problem. I think public subsidy will be a part of the solution, but it can't be all of the solution."
Glenn agreed that rethinking the way city codes and laws affect the housing market is key to getting more homes on the ground.
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