AMARILLO, Texas (KAMR/KCIT) — As more people look to make their homes in Amarillo, the city council has been holding special meetings with local experts in the housing and development field looking to figure out a way for Amarillo to grow.
This was the fourth meeting to discuss the Partnership for the Development Progress working group. So far the city has heard from developers, builders, and subcontractors, Tuesday, the council heard from realtors.
“It’s wonderful to have a meeting of the minds on that. We are excited with all they are looking to do and we love having a seat at the table with them and that’s the part that’s been so nice with this council, they have done a great job of including us and we appreciate that,” said Amarillo Association of REALTORS’ Ceila Welsch.
The City of Amarillo is forming a new committee which Mayor Ginger Nelson said will be focused on looking for long and short-term solutions to grow Amarillo.
Currently, Mayor Nelson said they hover around the 500 mark in new lots for development each year. Assistant City Manager Floyd Hartman said the city has established a goal of expanding to a minimum of 1,000 lots.
Both Mayor Nelson and Welsch said Amarillo is facing a housing shortage. They said much like the rest of the nation the shortage should level off soon.
Mayor Nelson said it is sparking a conversation on development and growth
“We are trending as the nation is trending. We have just over a 30 day supply of housing on our market right now to what we normally might have a three to four-month supply. That would be how long it would take for a property to go on the market to turn to sale, so we’re seeing that crunch in housing supply,” added Mayor Nelson.
The City will hold another meeting on Wednesday in which they will hear from the Amarillo Apartment Association and Amarillo bankers.
Mayor Nelson added they are looking at ways they can incentivize growth around and in the City of Amarillo for first-time homebuyers and developers, as well as getting people to move into established neighborhoods in the city.
“But we also got to do other things inside the city. Like how can we encourage first-time homeowners to go ahead and go through the process and purchase a home instead of, you know if they could rent at eight hundred a month and they could cover a mortgage payment at nine hundred a month? How do we help them close the gap on becoming homeowners instead of just home renters? So there are a lot of different components to solving growth and development in our city. New construction is just one of those components,” said Mayor Nelson.
According to the City of Amarillo, the city has grown in the past decade by more than 10 thousand people.