City of Austin
FOR IMMEDIATE RELEASERelease Date: Jul. 09, 2025
Contact: Kasi Jackson 5129742243 Email
All 215-units available to families making between 30% and 80% of area median income
AUSTIN, TX – The City of Austin Housing Department and Austin Housing Finance Corporation (AHFC) celebrate the opening of The Rhett, a 215-unit affordable multi-family rental housing community for households earning between 30% and 80% median family income (MFI). Located in District 1 at 1000 East Yager Lane, the apartments consist of one-, two-, and three-bedroom units, providing an affordable and diverse selection of household sizes in North Austin.
“The Rhett is an excellent example of what we can achieve by collaborating to provide more affordable housing in Austin,” said Mandy DeMayo, Interim Director of the City of Austin Housing Department. “We are proud to have supported this project through strategic investments and strong partnerships. We are excited to see it open and remain committed to supporting developments that enhance affordability for all in Austin.”
The Rhett is a mile and a half from the Tech Ridge Center and Walnut Creek Metropolitan Park, just a half a mile from the Parmer Lane Imagine Austin Activity Corridor, and a few feet away from the Copperfield Nature Trail and Park. The site, developed by Saigebrook Development and O-SDA Industries in partnership with Austin Affordable Housing Corporation, comprises three 5-story, elevator-served buildings. All units range in size from 698 to 1,264 square feet and are available as follows:
|
Income Level (at or below) |
1-bedroom/1-bath |
2-bedroom/2-bath |
3-bedroom/2-bath |
Total |
|---|---|---|---|---|
|
30% MFI |
6 |
9 |
2 |
17 |
|
50% MFI |
22 |
23 |
11 |
56 |
|
60% MFI |
26 |
45 |
32 |
103 |
|
80% MFI |
13 |
16 |
10 |
39 |
|
Total units |
67 |
93 |
55 |
215 |
Additional community amenities include a fully furnished clubhouse featuring a community room, a kids' playroom, an after-school tutoring program, a business center, a fitness center, a pool, and an outdoor playground, with Wi-Fi available in all common areas.
 |
 |
|
The Rhett business center |
The Rhett computer lab |
"The Rhett is located within a census tract where no tax credit housing has been developed within the past twenty years, and it is crucial that the developers are able to provide affordable units in this area," said Megan Lasch, Owner and President of O-SDA Industries. "Where the City of Austin's comprehensive planning vision includes the goals of expanding housing choices and providing a mix of quality housing for a diverse population, we believe that The Rhett is an important development that will bring housing opportunities to underserved households of many different sizes and income levels."
Development funding
The property received $6,400,000 from the AHFC through the Rental Housing Development Assistance (RHDA) Program, comprising $5,561,676 in 2022 General Obligation (GO) Bonds and $838,324 from the Housing Trust Fund. The development also secured an award of 4% Low-Income Housing Tax Credits (LIHTC) from the Texas Department of Housing and Community Affairs (TDHCA), as well as American Rescue Plan (ARP) funds, Project-Based Vouchers (PBVs) from the Housing Authority of the City of Austin (HACA), and Tax-Exempt Bonds. Additionally, the property received funding from Steller Bank and Hudson Housing Capital.
Resources for affordable housing are available online at www.austintexas.gov/housing.
To learn more about homelessness in Austin, please visit www.austintexas.gov/homelessness.
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 Saigebrook Development
Saigebrook Development, LLC creates exceptional affordable housing developments that serve the local workforce while also providing options for market rate rental units within each community. Established in 1996, the WBE- and HUB-certified real estate development consulting firm has developed and constructed more than 6,800 rental homes across the southeastern United States.
About O-SDA Industries
O-SDA Industries, LLC is a City of Austin MBE/WBE/Texas HUB-certified real estate development firm with deep expertise in building affordable housing communities that meet the unique needs of each city and individual neighborhood they serve. Since 2011, O-SDA has been part of over 25 successful 9% Housing Tax Credit applications for projects across the state of Texas.