The South Central Waterfront Initiative plan is to enhance multiple aspects of the waterfront in Austin's south central area. Primarily, the goal is to establish an attractive new area to pedestrians, create new public spaces and improve the connection to and from the waterfront. The initiative also plans to dedicate 10-20% of the new housing as affordable housing.
Imagine living in a condo overlooking brand new parks, a re-designed urban area, and Lady Bird Lake. These views are only possible with the re-structuring of the area. By creating new public space, the developers create a more appealing waterfront environment for the public who live in the area and those just making a day trip.
Once the new affordable housing becomes available, real estate agents will have more opportunity to achieve their primary goal, finding lifetime homes for families who otherwise may not have been able to afford property in the area. We're always excited to become part of the prospective homeowners experience of purchasing a new home.
Re-developing the waterfront would also see an increase in the job market, which would allow those who purchased property the chance to obtain employment just around the corner. The increase in the job market will also lead to an increase in demand for housing and bring more of an even balance to the ratio of jobs to housing.
Currently, it is known that the South Central Waterfront is more of an 8-5 style of district, not a 24/7 district. What that means is that generally there is a large influx of people in the area between 8 am and 5 pm, from Monday to Friday. During off hours and weekends, the area is largely devoid of people. Re-structuring the area would bring more foot traffic and upgrade the overall feel of the waterfront. In addition, bringing in new businesses along with new residents to the area would raise the overall excitement level to be around the waterfront area.
Austin is a booming area for real estate, as it has been one of the hottest markets for quite some time. The thought of adding more affordable property is a big step in the right direction for those who are still looking to buy and become an Austinite. The proposed re-development of the South Central Waterfront will breathe new life into an otherwise tired area. Not only will the real estate market have a positive impact with the additions of affordable housing, but the area will enjoy a much needed makeover—the perfect way to continue to show why Austin is a hotspot to live.
Want more information on the development? Reach out to us, or attend the Open Air Open House on April 30th. It's a family event with treats, a petting zoo, and much more.