Airbnb Invests $6.4 Million in Austin Affordable Housing Project, Revitalizing St. John Site
Airbnb has announced a $6.4 million investment in northeast Austin to fund affordable housing, specifically targeting the St. John Avenue site. This investment is part of Airbnb’s Housing Accelerator program and aims to create 201 units of affordable housing, with a companion project adding 325 units of mixed-income housing. The St. John site, owned by the city since 2013, has been vacant for nearly 20 years. In 2017, then-City Council member Greg Casar, now a U.S. congressman representing Austin, passed a resolution to reimagine the plot of land. Although the City Council approved the project in 2020, it stalled for five years due to a lack of funding, despite significant community support. Airbnb's investment will provide the necessary funding to move the project forward. The company's Housing Accelerator program seeks to address the national housing shortage by tackling financing, data, policy reform, and innovation.
