The Austin Housing Finance Corp. board of directors approved funding for two new affordable housing developments in Austin on Aug. 31. The developments will bring 160 supportive housing units to City Council District 3.

According to a city news release, the two multifamily rental developments—The Roz and The Sasha—received local and federal support, including:
  • Distributions of the city's voter-approved 2022 housing bond
  • 9% low-income housing tax credits, or federal tax credits taken by developers in exchange for building low-income rental projects
“These two rental developments ... are milestones for permanent supportive housing serving low-income, vulnerable populations in Austin,” said Rosie Truelove, the director of the Austin Housing & Planning Department, in a statement.

The details

According to the news release, the properties are expected to begin leasing in fall 2025.

The Roz will be located at 3432 Parker Lane and will:
  • Have affordable units for households earning at or below 60% of the median family income
  • Feature 100 efficiency units linked to housing choice vouchers from the city, the Housing Authority of the City of Austin and Veterans Affairs Supportive Housing to ensure lower-income residents can live on-site
  • Receive a $5.5 million rental housing development assistance loan to go toward predevelopment and construction costs
The Sasha, which received $2.9 million from the 2022 bonds and $3.8 million from Project Connect anti-displacement funds, will be located at 1401 Grove Blvd. and include:
  • 60 one- to three-bedroom units with 30 units for permanent supporting housing and 30 units for transitional supportive housing
  • Supportive housing for the Southeast Austin SAFE Alliance campus
  • Support for individuals and small families transitioning out of homelessness; fleeing from domestic violence, sexual assault or trafficking; or aging out of the foster care system