Texas CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
NRP Completes Austin Affordable Housing Development
The NRP Group opened the Bridge at Estancia, a 318-unit affordable housing community in Austin. The development provides housing for residents earning up to 60 percent of the Area Median Income (AMI). Rents range from $1,199 – 2,037.
Located at 1100 Avenida Mercado Street, near the intersection of Interstate 35 and State Highway 45, Bridge at Estancia and is part of the Estancia Hill Country master plan, a 600-acre mixed-use development.
The housing community was made possible by a $20 million housing tax credit investment from Hudson Housing Capital, along with construction and permanent financing provided by Bellwether Enterprises and Deutsche Bank. In December 2021, the Austin Affordable Public Facility Corp. issued $57.9 million in Multifamily Housing Revenue Bonds with BOKF Bank serving as the trustee.
Designed by HEDK Architects, apartments include private patios or balconies, high ceilings, vinyl plank flooring, and fully equipped kitchens with quartz countertops and recessed lighting.
