Development: District at SoCo
Award Recipient: Kaplan Acquisitions, LLC
Development Profile: Rental housing; buy-down of existing units. This investment in South Austin provides for affordable rental housing for low income households in a market-rate development -- setting aside 10% of 215 units (including a mix of one bedroom and two bedroom units) in a prime urban core location along a core transit corridor with Class A+ finishes and amenities found in the latest multifamily developments.
Total Housing Units: 215
Investment Impact: 22 affordable housing units at 40 years
Affordability: 50% median family income or less
Location: 501 E. Oltorf St., Austin, TX 78704
Source of Funding: General Obligation Bonds
Amount Awarded: $1,170,737
Date approved by AHFC Board: April 10, 2008
Project Status: Austin Housing Finance Corporation approved