Blackstone-Backed Group Completes Austin Affordable Housing Renovations

Blackstone Real Estate’s affordable housing division, April Housing, has reopened three affordable housing communities totaling 654 units in East Austin. The company spent over $60 milllion on makeovers at the three locations.

REBusinessOnline reports that working in partnership with the Housing Authority of the City of Austin (HACA), April Housing completed renovations across Heritage Point, a 240-unit senior living community for residents earning between 30 and 80 percent of the area median income (AMI); Eagle’s Landing, a 240-unit multifamily property for those earning 60 percent or less of AMI; and Village at Collinswood, a 174-unit senior living community for residents earning 60 percent or less of AMI.

All three communities now offer updated unit interiors, including bathrooms, kitchens, fixtures and appliances, as well as upgraded building systems and amenity spaces.

Blackstone says April Housing is the #1 owner and expected preserver of affordable Low-Income Housing Tax Credit (LIHTC) housing in the US.