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Austin greenlights $46M in affordable housing funding
AUSTIN – The City of Austin and the Texas Housing Department approved $46.1 million to support affordable housing for low- and moderate-income residents.
Eight projects in Districts 1, 3, 4, 7, and 9 will create 728 affordable rental units.
The Bailey at Stassney project in District 3 received $5.6 million to build 104 units with a 45-year affordability period.
The Manor Apartments project in District 1 received $5.7 million to build 181 units with a 40-year affordability period.
The Bloom at Lamar Square in District 9 received $5.5 million to build 56 units with a 40-year affordability period.
The Lamar Square Phase 1 project in District 9 received $4.5 million to build 45 units with a 40-year affordability period.
Crossroads Redevelopment in District 7 received $11.7 million, including $7.5 million from general obligation bonds and $4.2 million from the North Burnet Gateway.
The project will redevelop 92 units into 110 units, with 14 units affordable for 99 years and 96 units affordable for 40 years.
Pathways at Santa Rita Courts West in District 3 received $5.9 million to redevelop 44 existing units and construct 52 new ones, creating a total of 96 units with a 45-year affordability period.
St. George’s Court in District 4 received $1.7 million to rehabilitate 60 senior living units with a 45-year affordability period.
Waverly North in District 9 received $5.5 to rehabilitate 76 units with a 45-year affordability period.
