AUSTIN, TX – The City of Austin Housing Department is excited to announce the opening of the Ekos City Heights apartments, located in District 2 on the city’s South side, at 4400 Nuckols Crossing Road. The new residences are the result of a collaboration between McDowell Housing Partners, the Austin Housing Finance Corporation (AHFC). Asset Living will serve as the property manager. All of the property’s 179 units are income-restricted and will consist of one and two bedrooms. Ten of the total units will be permanent supportive housing (PSH). Permanent housing provides housing assistance (e.g., long-term leasing or rental assistance) and supportive services to assist individuals in achieving stability.   

“We are excited to celebrate the opening of yet another property that is not only an affordable housing residence but one which will also serve those 55 and older, individuals with impairments and those exiting homelessness,” says Mandy DeMayo, Interim Director for the Housing Department. “These new residences highlight the value the City places on all Austin residents, including seniors and people experiencing homelessness.” 

Chris Shear, Chief Operating Officer for McDowell Housing Partners, says Ekos City Heights is thoughtfully designed to provide residents with a supportive environment that allows them to live with dignity and maintain their independence. 

“This community-focused initiative not only offers accessible, comfortable housing but also fosters an engaging atmosphere where seniors can actively participate in social and recreational activities,” Shear says.  “By prioritizing both the physical and social needs of its residents, Ekos City Heights helps ensure that older adults remain vibrant, connected, and valued members of their community.”

Credit: Interior photo of the kitchen in a one-bedroom apartment at Ekos City Heights residence.  

Of the 179 units, 110 are set aside for households at or below 50 percent of the median family income (MFI) level; 59 units will be reserved for households at or below 80 percent of the MFI; and the remaining 10 units will be for households at or below 30 percent of the MFI. Eighteen of the total units will be accessible to persons with mobility impairments and 4 will be accessible to those with hearing or visual impairments. 
 

Credit: Photo of a lounge area in Ekos City Heights. 

Money Talks

Total development cost for the new 213,358-square-foot property was approximately $42 million. Funding came from a number of sources, including the Austin Housing Finance Corporation (AHFC), from which it received a $3 million loan through the Rental Housing Development Assistance (RHDA) program — $2.67 million from 2018 General Obligation (GO) Bonds and $333,333 from the Housing Trust Fund. 

The project also received $21 million in Permanent Loan (Bonds) and $17.5 million in Low-Income Housing Tax Credits (LIHTC) equity. LIHTC is a federal program enabled by the Internal Revenue System (IRS) and allocated to each state. The program allows housing developers to sell federal tax credits to eligible investors, who provide much-needed equity for building low-income rental housing developments. The Texas Department of Housing and Community Affairs administers the state’s housing tax credit program. 

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About the City of Austin Housing Department
The City of Austin Housing Department provides equitable and comprehensive housing solutions, community development, and displacement prevention services 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 McDowell Housing Partners
McDowell Housing Partners (MHP) is the affordable and workforce development and investment arm of McDowell Properties, a national multifamily housing investment company. MHP has established a team of professionals with a long track record of successfully producing and operating rent and income restricted assets. MHP Principals and key staff have completed the development of more than 5,000 affordable/workforce housing units. Most of this portfolio is in the state of Florida. However, McDowell Properties (the parent company) owns a number of developments throughout Texas, some of which are income restricted.