3506 Tom Green St, Austin, TX 78705

North University/Hyde Park renovation or vertical development opportunity. Property is zoned MF-3 and was selected for bonus density related to Equitable Transit Oriented Development. This subsection 2 allows for 70-foot per City of Austin taking NCCD and other height compatibility under the DB-TOD with 12% affordability at 80% Median Family Income in Austin. The code does allow single-stair buildings up to 5 stories that could be used to maximize density and affordability. DB-ETOD removes: setbacks, FAR Floor Area Ratios, maximum building coverage, and compatibility requirements. Per the City of Austin the NCCD requirement of one parking spot per bedroom does apply to development in the NCCD.

The original house, built in 1928, is not considered contributing to the historical character of the neighborhood and a demolition appears to be forthcoming based on preliminary discussions with the Austin Preservation/Historical Committee. Some repairs were performed on the house, including updates to windows, and a membrane roof was installed. This is a probate sale; therefore, the previous owner’s improvement history is limited and current condition is rough.

Renovation of the existing house is feasible, but a vertical development appears to be the highest and best use for the property. The property land is in a condo regime and 51% of development rights accompany unit A totaling 6.048 SF of land and current property totals 1,670 SF.