A new era of pro-housing initiatives allows 3 units per lot in Austin, Texas, and I have been forming three unit condo regimes for five years in anticipation of this change.
After decades of virtually no action on housing, there has been a flurry of pro-housing changes in Austin, Texas, over the past months, including the passing of the HOME initiative, which in part allows three units by right per lot (for most, but not all lots, see below).
“ I felt like a child on Christmas morning anxiously waking up my computer each Friday morning to see what gift had arrived overnight from the Austin city council.”
Over the summer, I would anxiously await the Austin real estate news each Friday morning so I could see what big change had been decided the night before at the Austin City Council meetings. After twenty plus years of doing condo conversions in Austin and across Texas, with the only big Austin change being ADUs going from 850 sq ft to 1100 sq ft, I never thought I would have the experience of seeing so many pro-housing initiatives pass in such rapid succession. I felt like a child on Christmas morning anxiously waking up my computer each Friday morning to see what gift had arrived overnight from the Austin city council.
There are a lot of changes I will get into in other articles, such as reduction in minimum lot sizes, changes to FAR, STR regulations and getting rid of parking mandates. However, by far the question I get asked by clients most often is, “Am I now able to build three units on my lot? This changes everything!” Yes, it does provide more development options, but not for all lots, as deed restrictions may still prevent putting additional units on a lot (see Deed Restrictions - Do I need to worry about them?).
“ I am well versed in what is required to make a three unit condo regime work.”
Due to some incredibly forward thinking clients, I have been writing and creating three unit condo regimes for the past five years in preparation for the three unit by right changes that only recently passed in Austin. I have also already completed many three unit regimes since the recent passing of the three unit per lot code changes. So, I am well versed in what is required to make a three unit condo regime work. I see a lot of condo documents silent on important issues such as: proper reservation of development rights for three units after the sale of one or more units, allowing flexibility for changes in development plans, and making projects function well with three units instead of two. Not discussing these important issues in three unit condo regimes could lead to costly problems with development of all three units. My experience in three unit condo regimes assures preventable problems are avoided.
I am ready to hit the ground running for clients wanting the option of having three units in their condo conversion projects.
Need to form a three unit condo? Contact Julie Alexander at Julie@TexasCondoLaw.com.
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