Editor's note: this article was updated to include project costs and unit options.

A $92 million multifamily development called Seabrook Square will bring over 250 affordable units to East Austin by 2026.

Per a news release from the Austin Housing Department, the project will be completed in two phases: Seabrook Square I and Seabrook Square II. Construction on the first phase is set to begin this month, and the second phase will begin in 2024.

Diving in deeper

Seabrook Square I will consist of 204 units, all of which will be income restricted for households at or below 60% of the median family income, according to the release. It will also include 10 live-work residence studios for East Austin artists, along with efficiency, one-, two-, three- and four-bedroom options. The first phase will cost $74.5 million and:

• Be developed by the National Housing Partnership Foundation, Capital A Housing and the Austin Housing Finance Corporation
• Be financed through AHFC debt refinancing, a tax-exempt city bond, construction bridge debt and 4% low-income housing tax credits

Once complete, the community will feature an arts hub with Black-led nonprofit organizations and small businesses, including Raasin in the Sun, Six Square and Origin Studio House, along with a public plaza for Seabrook Square residents and the surrounding neighborhood.

Seabrook Square II will consist of 60 efficiency units of permanent supportive housing, plus a private courtyard for permanent supportive housing residents. The $17.5 million phase will be developed by Integral Care and Capital A Housing, and it is being financed separately from the first phase.