Building Austin: New Housing Developments Address Affordability Crisis

By Shonda Novak, Austin-American Statesman [https://www.statesman.com/news/2023/06/07/austin-texas-real-estate-roundup-june-2023/14245537/]

"Our teachers, medical workers, first responders and others who serve such important roles for our community deserve to be able to live in our community." — Chris Affinito, president and founder of Notional Development Partners

Apartment, housing projects seek to ease financial burden on low-income earners, essential workers.

• Northwest Austin: A hotel conversion provides apartments for very low-income individuals, including those transitioning from homelessness. [https://www.statesman.com/news/2023/06/07/austin-texas-real-estate-roundup-june-2023/14245537/]
• Kyle: A 1,000-home subdivision is planned, with 1,400 apartments, commercial/retail space, amenities, an elementary school, and a town square.
• South Austin: 600 Cumberland [http://600cumberland.com/] will offer 110 apartments, with 50% below market rent. Tenants pay no more than 30% of their income. [https://www.statesman.com/news/projects/ affordability/how-austin-renters-can-find- Rarely-affordable-apartments-in-a-tight-housing-market-20210630-lr6bg7bfnfeqfifbif2ho4ynju-story.html] Rents range from $1,103/mo for an efficiency to $3,000+/mo for a 2-bed. [https://statesman.secure.footprint.net/austin/extra/600-cumberland- affordability.html]

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