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Low-income housing set for Austin hotel
A new low-income housing development is coming to Northwest Austin. The Balcones Terrace apartment complex opens next month---a former hotel conversion.
Published August 8, 2024 at 6:03am by Shonda Novak
Affordable Housing Community to Open in Austin
Austin is addressing housing affordability and homelessness with the upcoming opening of Balcones Terrace, a 123-unit apartment complex for low-income and formerly homeless residents. The project is a partnership between the city, Foundation Communities, Austin Housing Finance Corp, and HUD.
We are excited to be opening Balcones Terrace. It will provide a home for 123 of our neighbors who have struggled to find housing they could afford in Austin, as well as a supportive community. - Walter Moreau, Executive Director of Foundation Communities
Balcones Terrace
- 90% of units for households ≤ 30% of Travis County's median income (≤ $26,500 annually)
- Remaining 10% for households ≤ 50% of median income (≤ $44,100 annually)
- Monthly rents from $575 to $750
- Units range from 388 to 620 sq. ft.
- On-site services: case management, food pantry, community spaces, etc.
- 50 project-based vouchers awarded for those with chronic homelessness
The complex is a converted extended-stay hotel in Northwest Austin, with $10 million from the city and $8 million from HUD. It's Foundation Communities' 27th affordable housing project, and a ribbon-cutting ceremony marked its upcoming opening and HUD's Community Development Block Grant program's 50th anniversary.
Read more: 123-unit, low-income housing community to open in renovated former Northwest Austin hotel