As housing costs continue to grow in the area, three new affordable housing options will be available over the next two years.
In late July, Austin-based nonprofit Foundation Communities was awarded $17 million in funding from the Texas Department of Housing and Community Affairs as part of the state’s 9% low-income housing tax credit program.
The nonprofit plans to build a new community tentatively called Foundation Village at 11630-11706 N. Lamar Blvd., Austin. The project will include 88 apartments for very low-income families, including those with children who have been homeless. Construction is expected to begin in April 2020 and wrap up in late 2021.
In April, Foundation Communities broke ground on Waterloo Terrace, which will be available to single adults, said Donna Poston Williams, the organization’s director of individual giving and engagement.
“It is our mission to provide enough affordable housing in Austin so that ultimately there is no one that cannot afford to live here who is struggling and working hard,” she said.
These efficiency units will be priced at $450-$750 per month with utilities paid for. Waterloo Terrace will also have support services, such as fitness and nutrition classes, as well as counseling, Williams said.
Elysium Grand also opens in 2020 and will have 69 of its 90 total units reserved for residents making 30%-60% of the area median family income, which is $95,900. Veterans Affairs Supportive Housing vouchers will also be accepted for 25 of the 69 affordable units.
Amenities will include a community room with a kitchen, a business center, a gym and a playground, said Megan Lasch, owner of O-SDA Industries, which is partnering with Saigebrook Development.
“We are excited to bring this quality community to the North Austin area and help solve the need for affordable housing in this part of town,” she said.