Seasoned real estate agents that have built a successful career have a finger on the pulse of their community. They know what’s currently on the market, what’s being developed and what’s in the works for the future. Part of that knowledge comes from being familiar with the city’s land development codes.
In Austin, where there has been an explosion of growth, real estate agents are anxiously awaiting CodeNext. It’s a collection of updated land use guidelines that will impact buying, selling and building in Austin for the foreseeable future.
What You Need to Know About CodeNext
Austin officials began working on CodeNext earlier this year to address future development as the city expands and grapples with meeting a housing demand that continues to grow. CodeNext is a revamp of Austin’s current Land Development Code, which hasn’t been updated in decades.
The latest version of CodeNext is whopping 1,388 pages. If you don’t have time to comb through every page, here are a few major takeaways:
CodeNext Addresses 5 Key Points:
housing, permitting, community, mobility and the environment.
CodeNext Supports the Imagine Austin Comprehensive Plan
City counselors are making Land Development Code revisions with the adopted Imagine Austin Comprehensive Plan in mind. If you aren’t familiar with the plan, which provides direction for all city departments, the official 343-page guide tells you everything about it.
Housing Affordability is a Main Focus
CodeNext allows for a more diverse selection of housing in hopes of improving affordability. There’s also a citywide framework for increasing the production of affordable homes.
Streamlined Permitting Process
The serious housing shortage has kept Austin in a seller’s market for years. To alleviate hang-ups and speed up home building, CodeNext outlines a simplified, streamlined permitting process. It’s another way the city hopes to increase affordable housing. In addition to zone regulations and site planning, the city will create a faster review process for projects with 3-9 units.
City officials believe they can enhance Austin communities and improve the permitting process by refining the zoning laws and modifying the zoning districts. A primary goal will be beefing up inadequate base zones. How CodeNext Could Affect the Austin Real Estate Industry There’s no doubt that CodeNext will have a profound affect on the Austin real estate market. Some of the key changes agents can expect include:
The Market Could Open Up to More Buyers
Right now affordability is keeping many people from buying in the Austin market. If CodeNext is able to generate alternative housing options and encourage the development of affordable homes, agents could see even more interest in homes that are at or below the median home price.
More Mixed Use Spaces Being Developed
CodeNext firmly supports the development of mixed use spaces. Paired with the guidelines that promote walkability, there’s a good chance more mixed use properties will be built in highly populated areas.
Reduced Flood Potential
In the last few years Texas has seen devastating floods on numerous occasions. More buyers are understandably concerned about the possibility of flooding when they consider homes. It’s also a concern for city officials who are responsible for people’s safety and the local economy. Regulations for where and how homes are built will likely be affected by flood reduction efforts.
Right now agents, brokers and residents can comment on the latest version of CodeNext . Throughout the month of October the city will also host a number of open houses where they’ll answer questions from the community and explain elements of CodeNext in more detail.