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$60M Austin Affordable Housing Project Opens Doors
O-SDA Industries and Saigebrook Development have opened Saison North, a 116-unit partially affordable multifamily community in Austin, Texas. It’s located at 10010 North Capital of Texas Highway, between highways 1 and 183.
Team members also include nonprofit TCHFC as a co-managing member and Skybeck Construction as a general contractor. Additionally, Three Bar Architecture handled design.
The project’s financing includes $19.5 million in construction financing from Bank OZK, $17.3 million in federal LIHTCs syndicated by Hunt Capital Partners, a $12.9 million permanent loan from JPMorgan Chase, a $6.2 million soft loan from Austin Housing Finance Corp., and nearly $3 million from other sources
Of the total unit count, 70 percent (82 residences) is designated as affordable, serving individuals earning at or below the thresholds of 30, 50 and 60 percent of the area median income.
Common-area amenities include a fitness center, community dining room, business center and lighted pathways. Additionally, the property will offer childcare and adult support services to residents.
- ◦Development
- ◦Financing
