Springdale Road project developer takes extra steps to help residents stay in their neighborhood

Business

(Austin Business Journal)

AUSTIN (KXAN) — When Jim Young decided to buy a 50-year-old apartment complex in rapidly gentrifying East Austin, the developer knew he needed to be sensitive to the needs of the residents who would be displaced by his project. 

Young, founder of Sabot Development, plans to replace the 68-unit Goodwin Apartments at 3706 Goodwin Ave. — sandwiched between Airport Boulevard and Springdale Road — with an estimated 375-unit, five-story apartment community. The project is still in the planning phases, but Young said it will likely contain one- to three-bedroom units with 6,000 square feet of ground-floor commercial space. He’s also considering offering co-working space for residents.

Current residents will be eligible for financial assistance to help in their move. They will be given first preference and money to help them move back to the new community. Residents will also have free access to classes on the path to home ownership and other financial and budgeting classes through Framework CDC.

For more information, visit Austin Business Journal.

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