Affordable senior housing project in the works for Round Rock

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Round Rock City Council unanimously approved an affordable senior housing project at 1001 University Boulevard on May 23.

Bobbi Lucas, president and chief operating officer of Cornerstone Associates, LLC, presented the plans to council. Cornerstone Associates, the developer behind the project, is based in Omaha, Nebraska. Lucas said the company has 31 years of experience building multifamily housing, and this senior living project would be the company’s first in Texas.

“Looking at the demand, there hasn’t been a whole lot of senior affordable housing in the Round Rock area,” Lucas said. “We feel like we found a diamond in the rough. It just was meant to be.”

The Austin-Round Rock Metropolitan Statistical Area is home to the country’s second-fastest growing population of adults age 65 and older as well as the fastest-growing population of adults between 55 and 64 years old, according to the U.S. Census Bureau.

The property is planned to be a 3-story building with 157 one- and two-bedroom units, Lucas said. Every unit is restricted for seniors (55 and older) with incomes at or below 60% of the area median income, she said. For a two-person household, the income restriction is $45,420. The one-person household income restriction is $39,780.

Rent for a two-bedroom unit would be $1,200 in 2019, Lucas said. A one-bedroom unit would rent for $1,050 in 2019. Utilities and amenities–including a pool, billiards room, library and kitchen–are included in the rent, she said.

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  1. Affordable? Might I point out that the average Social Security recipient receives in total close to the rent on a one bedroom? Only rich or well off need apply? And people wonder why many of us live in less than desirable units. Bravo for those who can afford it , it does sound lovely But afforable?

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Taylor Jackson Buchanan
Taylor Jackson Buchanan is the editor for the Round Rock/Pflugerville/Hutto edition of Community Impact Newspaper. She has a bachelor's and master's degree from The University of Texas.
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