The Austin Chronicle: News: Naked City

The Austin Chronicle: News: Naked City

When is "affordable housing" not entirely affordable? When the housing development in question is called "Spring." On July 29, developers Robert Barnstone and Perry Lorenz (of the famed high-end Nokonah at Ninth and Lamar) and Larry Warshaw (of the decidedly more affordable Eastside Pedernales Lofts) announced their plans for a new 36-story, 200-plus-unit condo development at Third and Bowie called Spring.

According to the development team, the project is unique because it will be built on a relatively small, 6,500-square-foot "floor plate" – as opposed to the more common 16,000 to 20,000 square feet – in order to keep costs down.

"For the first time, living in downtown Austin will be a real option for teachers, firefighters, young professionals, and middle-income families – not just the very wealthy," Lorenz said.

Of course, one might argue that living downtown was entirely affordable for all of the aforementioned before high-end projects like the Nokonah began poking up all over town.

Although Lorenz and company may call Spring "affordable," for the rest of us, whether the development will be the way for the pushed-out to get back in is a matter of debate:

The so-called affordable units will cost "around" $250K, with some under $200K, Lorenz said. Back to the drawing board, boys. –

Jordan Smith