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This mixed-income development will offer permanently affordable rental housing for working families. Located in a South Austin core transit corridor, development highlights include providing a variety of services to families in partnership with St. Elmo Elementary School.
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Development: |
Sierra Vista (formerly Shady Oaks Apartments) |
Award Recipient: |
Foundation Communities |
Development Profile: |
Rental housing and learning center; acquisition and rehabilitation of existing apartment complex. |
Total Housing Units: |
238 |
Investment Impact: |
143 affordable housing units at 99 years |
Affordability: |
24 units at 30% median family income or less, 119 units at 50% median family income or less |
Location: |
4320 S. Congress, Austin, TX, 78745 |
Source of Funding: |
General Obligation Bonds |
Amount Awarded: |
$3,000,000 |
Date approved by AHFC Board: |
December 10, 2009 |
Project Status: |
Construction complete. Dedication held on August 22, 2012. |