Caritas is partnering with developer The Vecino Group and the Austin Housing Finance Corp. to build the 2-acre apartment complex, which is intended to house 171 people in studio apartments, according to a Caritas press release and fact sheet.
The AHFC is a nonprofit under the guidance of a board of directors made up of Austin City Council members. Both the AHFC and the city of Austin have invested $7.5 million in Espero Rutland, according to the release. Tax credits and loans through the Texas Department of Housing and Community Affairs as well as private financing are also helping fund the project.
Individuals will find housing at Espero Rutland through a process Caritas has set up with the Ending Community Homelessness Coalition. Once at the complex, on-site staff and case managers will help individuals access services such as treatment for substance use disorders, health care and domestic violence aid. Austin Public Health is providing funding for services, according to the Caritas fact sheet.
Individuals living at the complex will earn 60% of the area median family income or less with some apartments reserved for those earning 30% or less of the median family income.
The project is expected to be completed in the fall of 2022.