Austin Unveils New Affordable Housing Development

Austin, like many major US cities, is grappling with housing affordability and homelessness issues. Some positive news on this front: A new 123-unit supportive housing community, Balcones Terrace, is set to open its doors in September.

“We are excited to be opening Balcones Terrace,” said Walter Moreau, executive director of Foundation Communities. “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.”

Balcones Terrace by the numbers:

• Unit sizes: 388 - 620 square feet
• Rents for individuals earning up to $26,500/year: $575 - $650/month
• Rents for individuals earning up to $44,100/year: $675 - $750/month

The development, a converted former hotel, is located in Northwest Austin and is managed by Foundation Communities, a nonprofit affordable housing developer. The project is partially funded by the city of Austin and the US Department of Housing and Urban Development, which provided $10 million each.

The opening of Balcones Terrace is a step towards addressing the housing crisis in Austin, providing much-needed affordable housing options for those who need it most.

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Shonda Novak, Building Austin newsletter. Subscribe here.