The Texas Housing Conservancy (TXHC) has now acquired nine properties with the Austin Housing Finance Corporation (AHFC), which together have preserved about 700 affordable units across Austin.

The latest acquisition is apartment complex Twelve100. Its goal is to keep affordable housing options available by decreasing monthly rents for eligible residents. Twelve100 features one-, two- and three-bedroom units along with community amenities such as a resort-style pool, fitness center, playground and dog park. Average monthly rent prices at the property range from $1,600 to $1,700. Through the acquisition, the affordable housing program will be able to reduce some rents to under $1,000.

Current or future Twelve100 residents interested in the affordable housing program must meet certain income requirements based on household size and Austin’s median family income. Income restrictions vary from one to seven people in the household at varying income limits.

Rental rates in Austin increased both quarterly and annually, with full-service average asking rents reaching $42.94 per square foot.