Build­ing could start in 2014 if credit OK’D


Austin American-Statesman - - BUSINESS - Con­tin­ued from B SOUTH AUSTIN PROJECT BE­GINS

among oth­ers, McIver said.

If the tax credit ap­pli­ca­tion is suc­cess­ful, DMA could be­gin con­struc­tion in 2014. Nelsen Ar­chi­tects would de­sign the project, and Car­leton Con­struc­tion would build it. The project would be the sec­ond apart­ment devel­op­ment for DMA at Mueller. DMA also devel­oped Wild­flower Ter­race, an apart­ment com­mu­nity for se­niors.

“There are still a num­ber of mile­stones in the process, but given our success at Wild­flower Ter­race and cri­te­ria that makes Mueller a fa­vor­able lo­ca­tion for this type of hous­ing, we be­lieve we have a good chance at se­cur­ing the fund­ing we need to make this next project vi­able,” McIver said.

If the tax cred­its don’t come through, she said, “we will likely ex­plore alternative af­ford­able In other apart­ment news:

Austin-based de­vel­oper Oden Hughes LLC has bro­ken ground on the first phase of a 570-unit apart­ment project near the bustling South­park Mead­ows mixed-use devel­op­ment in South Austin.

Called Land­mark South­park, the first phase will have 285 apart­ments and ameni­ties such as a pool, club­house, fit­ness cen­ter, gam­ing cen­ter and dog park. Rents will range from $750 to $1,700 a month.

The project is near the south­west cor­ner of South First Street and Slaugh­ter Lane, just across from the South­park Mead­ows shop­ping cen­ter.

The first phase is ex­pected to wrap up in the first quar­ter of 2014. A sec­ond phase, also with 285 units, will be­gin in 2014. hous­ing strate­gies for the site.”

At Wild­flower Ter­race, the more mod­er­ately priced one-bed­room units rent from $360 to $780 a month, with mar­ket rate units of $950 to $1,200 a month. The two-bed­rooms go for $725 to $925 a month, with mar­ket rates for those units go­ing from $1,300-$1,600 a month.

Else­where at Mueller, AMLI Res­i­den­tial plans to start next year on 279 apart­ments that would have mostly mar­ket rate units, but also would set aside 15 per­cent of its units for res­i­dents who earn 60 per­cent or less of Austin’s me­dian fam­ily in­come.

Wal­ter Moreau, di­rec­tor of Foun­da­tion Com­mu­ni­ties, a non­profit that pro­vides af­ford­able hous­ing and sup­port ser­vices for low-in­come fam­i­lies and in­di­vid­u­als, said there is a crit­i­cal need for more such hous­ing in the re­gion.

“All of our 1,900 apart­ment and du­plex homes at Foun­da­tion Com­mu­ni­ties are full, and we’ve never seen wait­ing lists this long,” Moreau said in an email. “Austin seems to be in an­other pre-boom phase. Rents on ex­ist­ing apart­ments are climb­ing, and al­most all of the new apart­ment con­struc­tion is for high-end rents.”

Ev­ery Mon­day, Moreau said, Foun­da­tion Com­mu­ni­ties’ so­cial work team re­views about 15 new ap­pli­ca­tions from fam­i­lies with chil­dren for its sup­port­ive hous­ing pro­gram.

“Th­ese are fam­i­lies

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.