Will the $720 million Mobility Bond further gentrification?

Mobility Bond and gentrification

AUSTIN - Just a few blocks away from Downtown Austin lies a community that has a culture of its own. East Austin is known for its food, live music and bars. Recently, the old housing development is mixed with the new.

Gentrification is the new normal. But will a $720 million Mobility Bond add to it not only here but throughout the city?

Mandy DeMayo, Executive Director of Housing Works, an advocacy group for affordable housing, says Adler's plan will stop gentrification.

"So it will kind relieve the pressure on those few transit corridors that are seeing enormous development pressure as well as mobility pressure," DeMayo said.

However, Roger Falk, who works with Honest Transportation Solutions, says the $720 million bond is pressure he doesn't want.

"When you raise property values and you do a lot of development improvement, there's no way you're not going to create gentrification and higher values with the associated properties. That's just simple laws of supply and demand," Falk said.

Supporters of the bond say it deals with transportation only and that any plans for housing are a part of another initiative by city leaders.

(© 2016 KVUE)


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