Commissions get updates ahead of RFP for blocks 16, 18 - Austin Monitor austinmonitor.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from austinmonitor.com Daily Mail and Mail on Sunday newspapers.
AUSTIN, TX - The Federal Home Loan Bank of Dallas (FHLB Dallas) and Wells Fargo awarded $1.5 million via two Affordable Housing Program (AHP) subsidies for affordable rental developments in the works in Austin, Texas.
Foundation Communities provides affordable, attractive homes and free onsite support services for thousands of families with children, as well as veterans, seniors and individuals with disabilities. The nonprofit owns and operates 23 communities in Austin and North.
AUSTIN, TX - Wells Fargo and the Federal Home Loan Bank of Dallas (FHLB Dallas) have awarded $1.5 million in Affordable Housing Program (AHP) subsidies to Foundation Communities for two Austin apartment complexes serving low-income individuals and families.
The $25 million Zilker Studios apartments (formerly Armadillo Studios) will provide 100 rental units to single adults with high needs, low incomes and housing instability in central Austin while The Loretta, a $31 million project, will offer 137 units to low-income families and individuals in far north Austin. Each project received a $750,000 AHP subsidy.
“We are thankful that Wells Fargo and FHLB Dallas see these two projects as critical in providing affordable housing options at a time when rising rents and home prices are straining the budgets of many Austinites,” said Walter Moreau, Foundation Communities executive director.