[Urbannizer]

https://www.virtualbx.com/constructi...de-waterfront/

Austin (Travis County) — An Austin businessman received a zoning adjustment in order to develop a multifamily project on East Riverside waterfront.

At Tuesday’s session of the Planning Commission, the Corridor Mixed Use zoning for a 2.6-acre site was adjusted to provide eligibility for the density bonus program.

The Acton School of Business currently occupies the site, and the proposed development has the working title Acton Site. Its address is 1404 E. Riverside Drive.

The existing zoning of the property only allowed for a height up to 60 feet and 2:1 floor area ratio. The change would permit a height of 120 feet under some circumstances, but this lot is adjacent to the Colorado River and subject to the waterfront overly, which caps building heights at 96 feet.

Jeff Sandefer, who founded the school, sought eligibility in the density program to develop the project with up to 250 units, including units at 60% of the median family income.

Sandefer does not intend to go beyond the 96-foot limit. However, the 120-foot option was the most viable height choice that the regulating plan currently offers.