It will take creativity, but the affordable housing crisis is one that will not be ignored by lenders, investors or developers. Besides, tax credits may not be the sector's biggest issue.

What makes The Triangle unique is the type of deal creativity necessary in Austin, i.e., the use of a condo map to legally divide the retail from the multifamily, making each piece more valuable.

A Hollywood land site sells for $373 per square foot while comparable sites at the time were listed for $280 per square foot.

The facility will serve as the global headquarters for UTC Climate, Controls & Security, a unit of Connecticut-based United Technologies Corp.