The overview
The Southwest Austin development offers 23 move-in-ready townhomes ranging from $240,000 to $320,000.
Buyers must meet the income-qualifying requirements, earning at or below the 80% Austin median family income of $133,800. A local Housing and Urban Development certified broker will vet applicant eligibility, according to a news release. Down payment assistance is also available for certain eligible applicants.
Officials from Industry ATX, developer of the project, said the new townhome community aims to make homeownership possible for the city’s “critical workforce—teachers, musicians, office administrators, bartenders and others who contribute to the city’s vibrancy but struggle to afford a market-rate home.”
Brianna Berry, one of Industry SOMA’s first buyers, said the new development opens the door to homeownership as a single mom on one income.
“This is my opportunity to buy something,” she told Community Impact. “My income is not going to magically triple and I’m going to be able to buy some $500,000 house...So it’s either keep renting long-term or this...I think it will be comfortable for my family.”
The Industry SOMA townhomes feature modern designs and range from 1,042 to 1,208 square feet. Buyers can choose from three- and four-bedroom food plans.
Learn more about the project here.
