Austin new affordable housing apartment complex breaks ground Tuesday
(ABC 6 News) – Tuesday, Austin city leaders and community members celebrated the official groundbreaking ceremony for a new, multi-million dollar apartment complex.
The City of Austin, the Austin Housing & Redevelopment Authority, Hormel Foundation and officials with Mower County came together to celebrate the new ‘1st and 3rd Apartments’.
The Austin HRA thanks Three Rivers for their commitment to develop another project in the city. According to Austin HRA, Three Rivers was also responsible for bringing Fox Pointe to the community.
It is located on 3rd St. SE and 1st Ave. SE on the property adjacent to the Post Office.
The apartments will serve working families and have nine units of supportive housing. The supportive housing units will be for people experiencing homelessness and those with disabilities. Rent will be set anywhere from 30-60% of the area median income.
$1.5 million was awarded in housing tax credits for the project. Factors like accessibility play a part in how much money a project like this can get. The Hormel Foundation, the Austin Housing and Redevelopment Authority (HRA,) and the city itself are some of the others helping with the rest of the bill.