Photo by Foundation CommunitiesAffordable housing nonprofit Foundation Communities has received $11 million in tax credits for a project at the corner of 11th and Trinity streets in downtown Austin. Foundation Communities Executive Director Walter Moreau said Capital Studios is slated for 120 efficiency apartments—27 of which will be supportive housing for homeless individuals—to house single adults with rents of about $400–$650 per month including bills.
Moreau said the units would be targeted toward those earning about $12.75 per hour or less.
"We think it will be particularly attractive for folks that work downtown in hotels, restaurants or in the service sector," Moreau said. "We'll have very limited parking, so it's designed for folks that don't have a car. But there's a bus stop right in front of the property that has bus service for four grocery stores."
The 27 units devoted to supportive housing will work much like supportive units in Foundation Communities' other properties. Residents will have access to on-site social services, which proponents of supportive housing say help residents maintain healthier, more productive lifestyles.
