Austin City Council Gives Okay for 262-Unit Affordable Housing Project
The Austin City Council has voted to okay a proposal for an affordable housing development on a city-owned site. The project, to be called Seabrook Square, will be on a 3-acre site in East Austin. The apartments will have Income restricted housing plus supportive housing and social services for individuals exiting homelessness.
The total cost of the project is to be approximately $76 million. The National Housing Partnership Foundation will head up the project and will make a $25 million contribution towards the construction. $29 million will come from a US Department of Housing and Urban Development loan and about $6 million from the city’s 2018 affordable housing bond. Other funds will come from various federal, state and local agencies.
The ground floor of Seabrook Square will include a cafe, 10 apartments dedicated for artists studios and a community hall. The developers hope to break ground in 2023.
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