The NRP Group, in partnership with the Austin Independent School District (AISD), announced the financial closing and groundbreaking of the first phase of the Anita Ferrales Coy school-to-housing redevelopment. The Urban Investment Group at Goldman Sachs Alternatives contributed $60 million in project financing for the project.

The 675-unit community will break ground in two phases: Phase 1 will comprise the first 341 units, while Phase 2 will launch construction of an additional 334 units, with construction expected to begin late this year.

Located at 4812 Gonzales St., the 18-acre site will include one-, two- and three-bedroom residences. This mixed-income community is designed to provide housing options for AISD teachers, staff, and families. Fifty percent of the units will be rent and income‑restricted.

Amenities include a pool, co-working lounge, fitness center, parking garage and shared outdoor gathering spaces.

Under a long-term ground lease agreement, AISD is leasing the land to The NRP Group.