Group offers affordable housing, tax services

On any given night, there are about 4,000 homeless people in Austin, a city with a population of 750,000 and growing. Walter Moreau believes the city can do better.

"Five years ago, I had a sabbatical, and visited a social housing group in London [England]. When I asked how many homeless they had, the number of 'rough sleepers' they had was roughly 400 in a city of 12 million," he explained. "The reason it's so low is because they've really invested in a variety of supportive housing models. And I think it's the political will that was there to spend the money. When they wanted to solve the problem, they could."

Foundation Communities is a nonprofit organization that provides affordable social housing and support services for struggling families and individuals. In January, the foundation was named the South Austin Civic Club's Business of the Year, despite not technically being a business.

Moreau has been director for 15 years and became involved with the group after graduating from The University of Texas Lyndon B. Johnson School of Public Affairs in 1994. Straight out of the gate, he began to work with what was then known as the Central Texas Mutual Housing association, an outgrowth of the UT student co-op housing, according to Moreau.

When the organization started, it owned four properties; now it manages 16.

An apartment that might run $1,200 in the private market may be closer to $800 on a Foundation Communities property, depending on the circumstances.

"A lot of people have a perception of what affordable housing looks like in their mind," Moreau said. "Most people are amazed. They visit and see what affordable housing can look like. It's a place where residents are proud of where they live."

Its newest project, M Station, is a $25 million development that offers upscale apartments at an affordable price. The establishment contains 150 apartments with a 20,000-square-foot learning and child care center that offers free after-school programs for children and is open to nonresidents. The children who attend the Foundation Communities learning centers boast a grade point average of 3.43.

M Station is also one of the greenest new rental properties in the country, sporting a Leadership in Environmental Energy and Design Platinum rating. It is located near the new Martin Luther King Jr. Boulevard station and on a bus route so transportation into the city is available.

About 10 percent of Foundation Communities' apartments are designed as supportive housing, which provide services to those who are homeless or have extremely low income.

"I think of our work—we're not a policy organization or advocacy group—we're really about being a long-term landlord and having great learning centers," he said.

Foundation Communities also does income taxes free of charge for families who earn less than $50,000 per year. In 2011, the nonprofit did about 18,000 tax returns. It expects to do more in the future.

About 80 percent of the nonprofit's budget comes from rental income, but it also relies on grants, bonds, tax credits and donations to support its cause.

Foundation Communities, 3036 S. First St., 447-2026, www.foundcom.org