> I don't think increasing housing density is the answer. We really don't need more luxury apartments or million dollar condos.
This was my first natural instinct maybe 5 years ago, but seeing the differences in gentrification stories has made it clear it's far worse to keep density the same. If nothing in the city changes and rich people decide they want to flock to your city (in this case, tech workers), it's a given that the existing poorer people will be forced out and prices will increase. Measures like rent control only slow the process, holding back a rising tide.
I've seen this personally in my backyard in Brooklyn. What has happened there is that massive luxury towers have been built along a busy street (central to transit but still not "neighborhoody"). While rents have still gone up, it seems this real estate and luxury market has helped stave off the insane hikes SF has seen, for example. Million dollar condos, probably not a good idea. But luxury buildings with high density turn into normal real estate in 20 years, and that top of the market ease keeps a lot of that tech money out of existing minority and poor neighborhoods.
The question for Austin if they accept that is where to put them. Finding a balanced place would be key here IMO.