Jesús Garza, Interim City Manager | City of Austin website
Jesús Garza, Interim City Manager | City of Austin website
The City of Austin Housing Department has approved $50 million in funding for nine affordable housing developments across various districts, benefiting low- and moderate-income residents. The Austin Housing Finance Corporation (AHFC) Board sanctioned the funding, which will result in the creation of 1,018 new and preserved rental units along with 51 ownership units. All units will be affordable for households earning at or below 80% of the median family income.
Mandy DeMayo, Interim Director for the Housing Department and AHFC Treasurer, emphasized the positive impact of these developments, stating, "Each development and each new unit of affordable housing creates opportunity for Austinites. We know that by opening the doors for housing stability, local communities will experience improved health and well-being, greater economic success, and encourage a more connected and diverse neighborhood of support."
One of the approved developments is Balcones Terrace in District 7, which will provide 123 units for individuals exiting homelessness. Cairn Point at Montopolis in District 3 will offer 150 units for seniors, while Escuela Nueva in the same district will feature a 114-unit multi-family development. Mary Lee Square in District 9 will preserve 216 existing households, and Real Gardens in District 1 will construct 60 supportive housing units. Seabrook Square II in District 1 will create 60 supportive housing units, Sunset Ridge in District 8 will provide 221 multi-family residential units, and 5900 South Pleasant Valley in District 2 will offer 74 multi-family residential units.
James May, Housing and Community Development Officer for the Housing Department, highlighted the dedication to affordable housing, saying, "We remain focused on our mission to create and preserve affordable housing for equitable and lasting support for our communities who need it most. These developments employ innovative funding strategies while expanding our regional coordination and partnerships."
The City of Austin's commitment to affordable housing is part of the Austin Strategic Housing Blueprint, which aims to create 60,000 affordable housing units for those making less than 80% of the median family income by 2028. The Blueprint includes goals for affordable housing in every City Council District to ensure resources are distributed equitably.
As the Austin housing market continues to evolve, the City is implementing innovative strategies to address challenges associated with limited resources, regional coordination, partnerships, and legislative constraints. Affordable housing resources and information can be found online at www.austintexas.gov/housing.
The City of Austin Housing Department and the Austin Housing Finance Corporation (AHFC) are working collaboratively to provide equitable and comprehensive housing solutions for the benefit of low- and moderate-income residents.
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