Through the Austin Housing Finance Corp., council approved more than $47 million in spending and loan agreements for the apartments, located in north, south and east Austin.
The housing is all located near current or future transit lines, and some of the actions were supported by more than $10 million in Project Connect antidisplacement funds. That program is aimed at keeping longtime Austinites housed by maintaining some existing affordability and limiting displacement spurred by new development as the local cost of living ticks up.
Council agreed to spend $2.6 million from the Project Connect fund to buy City View Apartments, located at 2000 Woodward St., in order to both preserve affordable housing and ensure upkeep there. The property is located just off Hwy. 71 and is near a current Capital Metro MetroBus route.
The city may also consider an expansion of the complex adjacent to Mabel Davis District Park in the future—potentially for people exiting homelessness
"Preliminary analysis by staff suggests that a small permanent supportive housing development that targets the elderly may be appropriate for this site, although further due diligence is necessary before a potential Phase II is pursued," city staff wrote in a document covering the purchase.
The complex offers 68 one- and two-bedroom units available to renters earning between 30% and 60% of the regional median family income, or MFI, currently $110,300 for a family of four. Two additional one-bedroom spaces are not income-restricted.
Staff said the city may also push for deeper affordability there in the future.
To the southwest, $7 million from 2018 housing bonds will go towards rehabilitation and management of the 240-unit Retreat at North Bluff at 6212 Crow Lane. The site is also near MetroBus routes and the future Project Connect Orange Line.
Following council's action, a city nonprofit will partner on a 50-50 basis with Affordable Central Texas, a separate local nonprofit, on the preservation of the development's affordable housing. The complex features 68 apartments available at market rates that will have their rates reduced through the new partnership. The remaining 172 spaces are available between 30% and 120% MFI.
Finally, council also agreed to purchase Midtown Flats at 615 W. St. Johns Ave. for $7.68 million from Project Connect antidisplacement funds, with an additional $400,000 loan from the 2018 bond for "working capital" including operating costs.
Midtown Flats is currently home to 20 one-bedroom and 20 two-bedroom units of "naturally occurring" affordable housing available between 50% and 60% MFI, according to the city.
Staff supported the purchase given the complex's location in the Crestview Station area that is already home to a Capital Metro rail stop. The station will also service future Project Connect Orange and Blue line trains, and the area is now "vulnerable to displacement," staff said.
Finally, $30 million in bonds will be issued by a Housing Authority of the City of Austin affiliate for renovations and expansion at Rosewood Courts. The East Austin apartments first opened in the 1930s, and the new funding will see a portion of the existing buildings rehabilitated while most of the complex is demolished for a new multifamily development.
Plans for the redeveloped Pathways at Rosewood Courts East include 184 units, with 20 units in the restored older buildings and 164 one-, two-, three- and four-bedroom units in the new addition available at between 30% and 60% MFI, according to city documents.
