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Austin Housing Department secured $50 Million in Funding for Upcoming Housing projects

Austin Housing Department secured $50 Million in Funding for Upcoming Housing projects

Austin, TX: New low-income housing in Austin will get $50 million in financing from the Austin Housing Finance Corporation.

A total of 1,018 new and preserved rental apartments and 51 ownership homes will be built in Districts 1, 2, 3, 7, 8, and 9 with the money that was approved on Thursday by the Austin Housing Finance Corporation Board.

Households earning 80% or less of the median family income (MFI), which is less than $93,000 per year, will be able to purchase each unit.

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The breakdown of the project is:

Seabrook Square II 

  • Located in District 8 at 8413 Southwest Parkway 
  • Construction scheduled for completion by December 2026, anticipated move-in for February 2027. 
  • 100 units will be available for rent to households earning at or below 50% MFI
  • 76 units will be available for rent to households earning at or below 60% MFI
  • 45 units will be available for rent at 80% MFI 

5900 South Pleasant Valley 

  • Located in District 3 at 2721 Goodwin Avenue
  • Phase one construction scheduled for completion by December 2025. 
  • 14 units will be available for sale to households earning at or below 60% MFI
  • 37 units will be available for sale to households earning at or below 80% MFI 

Mary Lee Square 

  • Located in District 9 at or near 1316, 1318, 1322-1324, 1330-1332, and 1340-1342 Lamar Square Drive
  • Construction expected to be completed by October 2025.  
  • 88 units will be available for rent to households earning at or below 30% MFI
  • 64 units will be available for rent to households earning at or below 50% MFI  
  • 64 units will be available for rent at 60% MFI 

Cairn Point at Montopolis

  • Located in District 3 at 1013 Montopolis Drive
  • Construction expected to be completed by September 2025, anticipated move-in February 2026. 
  • 23 units will be available for rent to households earning at or below 30% MFI 
  • 50 units will be available for rent to households earning at or below 50% MFI 
  • 52 units will be available for rent at 60% MFI
  • 25 units will be available for rent at 80% MFI

GSNZ 7 Acres West

  • Located in District 1 at 2210 Pershing Drive
  • Construction scheduled for completion by June 2026, anticipated move-in for August 2026. 
  • All 60 units will be available for rent to households earning at or below 30% MFI

GSNZ 7 Acres West

  • Located in District 1 at 2210 Pershing Drive
  • Construction scheduled for completion by June 2026, anticipated move-in for August 2026. 
  • All 60 units will be available for rent to households earning at or below 30% MFI

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