Nonprofit Foundation Communities plans 88-unit low-income development in North Austin

In late July, 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 estimated $23 million-$25 million 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, the nonprofit began construction on Waterloo Terrace, a 132-unit community catered toward single adults. That community will open in fall 2020. www.foundcom.org

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