Austin, TX
Tenants at Austin apartment complex priced out as new owner takes over
Renters on the complicated inform KVUE they’re fearful about discovering a brand new house.
AUSTIN, Texas — Jose Moreno works onerous as a jeweler. It’s how he makes ends meet, offering for six youngsters and his mother in Mexico.
“In Mexico I couldn’t earn sufficient cash to keep up my household,” stated Moreno.
That’s why he got here to the U.S. He’s been residing on the Outdated Homestead flats for a year-and-a-half and shares an condominium, paying about $700. He can’t afford extra, for the sake of his household.
“My household is all the pieces. In the event that they don’t eat, I don’t sleep,” he stated.
However now with the complicated being bought, and their leases not being renewed, he’s not sure the place to go. In keeping with Zumper, the typical lease for a one-bedroom condominium in Austin is $1,539, greater than double what Moreno pays.
“Many instances I can’t sleep as a result of I can’t discover an condominium,” he stated.
He’s not the one one on this predicament. Ken Purcell has been residing on the complicated for 4 years, paying about $1,300 for a two-bedroom condominium. He stated he can’t afford the identical sq. footage elsewhere.
“Presently round city, it’s trying about $2,600 is the typical,” stated Purcell.
The brand new purchaser of the condominium, JCI Residential, stated it is probably beginning development in 2023. Residents say they’ve been supplied a month of free lease, however after that, they don’t know the place to go.
“I can’t afford to stay in Austin after they’ve us depart in Christmas,” stated Purcell.
The tenants are demanding the remainder of their lease be waived for the primary 12 months and assist with the price of relocating.
JCI Residential stated in an announcement:
“JCI Residential is underneath contract to buy the Outdated Homestead flats and is working with the present property proprietor to tell residents of potential redevelopment plans, in addition to provide lease concessions and different various inexpensive housing choices to residents when their leases expire.”
In the meantime, Moreno and Purcell will proceed placing in sincere work, not sure if that’s sufficient to make a residing in Austin anymore.
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