AUSTIN, Texas — The Austin Housing Finance Corporation has approved $50 million for new affordable housing in the city.
The funding, which was approved by the board on Thursday, will go toward the construction of developments in Districts 1, 2, 3, 7, 8 and 9, which will total 1,018 new and preserved rental units and 51 ownership units.
Each unit will be affordable for households earning at or below 80% median family income (MFI), which translates to less than $93,000 annually.
The city provided details about each of the new properties:
Balcones Terrace
- Located in District 7 at 10024 North Capital of Texas Highway
- Completion is on track for 2024, anticipated move-in summer 2024.
- 31 units will be available for rent at or below 30% MFI
- 31 units will be available for rent at or below 40% MFI
- 61 units will be available for rent at or below 50% MFI
Cairn Point at Montopolis
- Located in District 3 at 1013 Montopolis Drive
- Construction expected to be completed by September 2025, anticipated move-in February 2026.
- 23 units will be available for rent to households earning at or below 30% MFI
- 50 units will be available for rent to households earning at or below 50% MFI
- 52 units will be available for rent at 60% MFI
- 25 units will be available for rent at 80% MFI
Escuela Nueva
- Located in District 3 at 2013 Montopolis Drive
- 20 units will be available for rent to households earning at or below 30% MFI
- 66 units will be available for rent to households earning at or below 50% MFI
- 28 units will be available for rent at 60% MFI
Mary Lee Square
- Located in District 9 at or near 1316, 1318, 1322-1324, 1330-1332, and 1340-1342 Lamar Square Drive
- Construction expected to be completed by October 2025.
- 88 units will be available for rent to households earning at or below 30% MFI
- 64 units will be available for rent to households earning at or below 50% MFI
- 64 units will be available for rent at 60% MFI
Real Gardens
- New development located in District 1 at 2824 and 2826 Real Street
- Construction scheduled to be finished by January 2026, anticipated move-in March 2026.
- 35 units will be available for rent to households earning at or below 30% MFI
- two units will be available for rent to households earning at or below 40% MFI
- 23 units will be available for rent at 50% MFI
Seabrook Square II
- Located in District 8 at 8413 Southwest Parkway
- Construction scheduled for completion by December 2026, anticipated move-in for February 2027.
- 100 units will be available for rent to households earning at or below 50% MFI
- 76 units will be available for rent to households earning at or below 60% MFI
- 45 units will be available for rent at 80% MFI
Sunset Ridge
- Located in District 2 at 5900 South Pleasant Valley Road
- Construction scheduled to be finished by April 2025, anticipated move-in for September 2025.
- 19 units will be available for rent to households earning at or below 30% MFI
- 55 units will be available for rent at 50% MFI
5900 South Pleasant Valley
- Located in District 3 at 2721 Goodwin Avenue
- Phase one construction scheduled for completion by December 2025.
- 14 units will be available for sale to households earning at or below 60% MFI
- 37 units will be available for sale to households earning at or below 80% MFI
GSNZ 7 Acres West
- Located in District 1 at 2210 Pershing Drive
- Construction scheduled for completion by June 2026, anticipated move-in for August 2026.
All 60 units will be available for rent to households earning at or below 30% MFI
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