Alamo Drafthouse owners bought an old school and promised affordable housing. Years later, there is none.
https://www.kut.org/austin/2022-05-2...in-isd-leagues
For a moment, the possibilities for a former school building in one of Austin’s most coveted neighborhoods seemed endless.
A contemporary arts center with space for restaurants. What about a community theater? The 4-acre spot in Hyde Park, several groups suggested, could be used to build homes public school teachers could afford.
Even in 2017, the Austin Independent School District knew it couldn’t pass on an offer to help house teachers in a city where homes regularly sold for more than $400,000. (Five years later, they sell for much more.) After receiving nearly a dozen bids to buy the old Baker School in Hyde Park, AISD sold the property to the owners of the Alamo Drafthouse who said they would restore the old building and build a block of affordable homes.
But years after the sale, there is no affordable housing on the Baker School plot — and no plans to build any. So, how did AISD sell a piece of public land on a promise that never materialized? One way to explain it involves the City of Austin, a movie theater company hamstrung by the pandemic and a school district left rethinking how it should manage valuable property.