Austin Economic Development Corporation
City of Austin
Austin’s newly established Economic Development Corporation is tackling affordability and displacement through strategic public investments and innovative financing tools. HR&A is collaborating with QBL Partners to implement the EDC’s ambitious agenda, advancing a TIF district for the 118-acre South Central Waterfront, creating a cultural trust to preserve performing arts spaces, and building a pipeline of public benefit transactions citywide.
The Austin EDC was approved by City Council in October 2020 with a mandate to execute transactions and advance planning efforts supporting affordability and displacement prevention, but needed strategic frameworks to translate this vision into concrete projects. HR&A is supporting formation of a TIF district for the South Central Waterfront to fund affordable housing, public infrastructure, and open space improvements. We developed a benefits case synthesizing years of planning to build public support, compiled case studies of TIF districts demonstrating best practices, and coordinated drafting of required district documents. Our feasibility analysis evaluating potential costs under different scenarios is informing City Council decisions on policies and investments for the district’s formation.
Beyond the waterfront, HR&A supported EDC refinement of a cultural trust concept to prevent displacement of performing arts organizations. We created a business plan and financial model leveraging city, philanthropic, and private capital while managing an advisory committee. HR&A drafted an RFP that will allocate funding for cultural organizations to acquire venues and create shared space opportunities. This comprehensive support positions the Austin EDC to deliver on its mission through diverse approaches addressing affordability and cultural preservation across the city.
