The NRP Group has begun construction on a 318-unit, fully affordable housing community in southwest Austin. The Bridge at Estancia Apartments will be reserved for renters earning up to 60 percent Average Monthly Income (AMI). Support services will include after-school programming, financial literacy training, English as a Second Language (ESL) assistance, health and wellness screenings, a first-time homebuyer program and more.
The four-story apartment community features an assortment of 1-to 4 -bedroom floor plans, targeting working families. Mike Gerber, President and CEO of the Housing Authority of the City of Austin said, “We really understood what that community was asking for, and I think we hit a home run here.” Bridge at Estancia will include state-of-the-art community amenities such as a resort-style pool, community lounge, fitness and business centers, a playground, and BBQ pits. It will cost $70 million to build. The developers used a combination of tax equity and bonds to help finance the project.
The first units of Bridge at Estancia are expected to deliver next summer.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.
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