Why Central Austin Lot Values Could Decrease by 50% Tomorrow

If you own or recently purchased a lot in Austin with the intent to build more than one unit or a duplex, throw your current plans away.

A crucial City Planning Commission vote tomorrow could drop some Central Austin land values by at least 50%.

For background, the Austin City Planning Commission reviewed changes to city design standards through a task force. The Residential Development Standards Task Force first met December 2007 and briefed Austin City Council in February.

Most guidelines are well-received, but one in particular may negatively impact Austin duplexes and infill lots, especially in East and Central Austin.

Read the rest of this article at Austin Real Estate Today.