Af­ford­able apart­ments planned at Mueller site

De­vel­oper wants units af­ford­able for those start­ing ca­reers.

Austin American-Statesman - - BUSINESS - By Shonda No­vak sno­vak@states­ Apart­ments

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,

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