The strategic acquisition preserves and enhances affordability near major job and entertainment centers.
AUSTIN, TX – The Austin Housing Finance Corporation (AHFC) announces the acquisition of Twelve100, a multifamily property near the Domain and along the Northern Walnut Creek Trail. Located at 12100 Metric Boulevard, this strategic acquisition preserves and enhances affordability near major job and entertainment centers.
“Twelve100 marks our largest acquisition yet and a huge win for affordability in North Austin,” explains Mandy DeMayo, Interim Director for the Housing Department and Treasurer of AHFC. “We are grateful to our partners who make such affordability wins possible.”
AHFC partnered with the Texas Housing Conservancy and Civicap Partners for the acquisition, which supports long-term affordability as well as provide programs to build community and improve resident outcomes. With a large multifamily property in the AHFC portfolio, the City of Austin can ensure access to affordable rent for the area for years to come.
Preservation acquisitions offer one tool in working towards the Austin Strategic Housing Blueprint goals for increasing affordable units throughout Austin. With the acquisition of Twelve100, AHFC has preserved 845 units of naturally occurring affordable housing through acquisitions of 8 existing properties over the last 2.5 years.
A modern Twelve100 apartment. Credit Texas Housing Conservancy
“By acquiring Twelve100, we are securing a well-located property that allows us to preserve affordability in one of Austin’s most desirable neighborhoods. We remain committed to ensuring that our residents have access to quality housing that fosters community and stability,” said Monica Medina, President & CEO of Texas Housing Conservancy.
Jon Mendoza, Director of Acquisitions at Texas Housing Conservancy, shares that “Twelve100 provides an incredible opportunity to ensure that essential members of Austin’s workforce can live near where they work, helping maintain the fabric of the city.”
Twelve100 includes 384 units and offers 1-, 2-, and 3-bedroom units. Applicants interested in the Affordable Housing Program at Twelve100 must meet income requirements based on their household size and the area’s median family income (MFI). This also includes verification of income, household size, and unit size. For more information, visit https://www.twelve100.com/affordable-housing/.
About the City of Austin Housing Department
The City of Austin Housing Department provides equitable and comprehensive housing, community development, and displacement prevention to enhance the quality of life of all Austinites. To access affordable housing and community resources, visit www.austintexas.gov/housing.
About the Austin Housing Finance Corporation
The Austin Housing Finance Corporation (AHFC) was created as a public, non-profit corporation and instrumentality of the City of Austin. The mission of the AHFC is to generate and implement strategic housing solutions for the benefit of low- and moderate-income residents of the City of Austin.
About Texas Housing Conservancy
Texas Housing Conservancy is a nonprofit organization dedicated to ensuring that Texas’ workforce can afford to live in Texas by preserving well-located multi-family apartment properties for long-term affordability. Established in 2016, TxHC is committed to building a scalable social impact fund aimed at preserving affordable housing for working families. For more information about Texas Housing Conservancy and its portfolio of properties, please visit www.texashousingconservancy.org.
About Civicap Partners
Civicap is a real estate investment firm singularly focused on the creation and preservation of attainable housing. The firm serves households making 60-100% of AMI with high quality housing, while providing superior risk-adjusted returns to investors. Civicap has a total of 5,600 multifamily units across Texas and a total gross AUM of $1B+. For more information, visit www.civicap.com.