Making housing in Austin affordable

AUSTIN (KXAN) - Austin is attracting lots of newcomers, but that population boom is making it more expensive to live here.

As housing prices soar, city council wants to make more affordable housing available. They've voted 4 to 3 to use $10 million from our $14 million budget surplus on housing.

Back in November, voters had a chance to approve an affordable housing bond, but it lost by 5,000 votes. Making it the only bond package to lose in Austin.

The $78 million bond would've helped construct new affordable rental properties for low-income Austinites.

Patrick Hosch became homeless after losing his job of ten years.

"All it took is losing one paycheck and I lost my place to live," said Hosch.

In an effort to get back on his feet; he recently moved into a new affordable housing apartment. However, the complex is full to capacity and even has a waiting list. Hosch says it's a sign of the growing demand.

Austin Mayor Pro-Tem, Sheryl Cole was one of three city council members who voted against using the surplus money towards housing. She says it was out of respect for November voters. But she also says she agrees the need for affordable housing is great.

"We definitely can not overlook it," said Cole. "It means people are moving further and further from the central city and that causes traffic congestion."

Cole says the money from the surplus is expected to go towards housing projects as soon as next month.

The city says three of those projects would've been halted had the $10 million not been approved.