Affordable apartments planned at Mueller site
Developer wants units affordable for those starting careers.
Another apartment project is in the works for the Mueller community in Northeast Austin — and developers say the complex would have rents within reach of working-class residents.
Catellus Development has chosen DMA Development Co. for the project, which is slated for 3 acres near Berkman Drive and Barbara Jordan Boulevard within the Mueller development.
The new apartment community would have at least 85 percent of its estimated 175 units reserved for families making 30 percent to 60 percent of the area’s median household income. Most one-bedroom units would have rents in the $575- to $740-a-month range, while two-bedroom units would rent for $650 to $950 a month. About 17 units will be priced at about $360 a month.
Next month, DMA will pursue federal affordable housing tax credits, and company officials said they expect to know by summer 2013 if they will secure the tax credits to make the project possible.
“Despite a relatively brief and minor decline in home prices, Austin’s housing market is once again resurging, making it even more challenging for hardworking households to find affordable housing anywhere in Central Austin,” said Diana McIver, president of DMA Companies.
The units would be within the price range of people beginning careers as teachers, nurses and first responders,