The NRP Group Breaks Ground on 328-Unit Mixed-Income Development in Austin, Texas
Slice of Real Estate Team
08/15/2024
Key Highlights:
- 328-unit mixed-income community in East Austin; half the units reserved for 60-80% AMI.
- Features include resort-style pool, coworking spaces, and fitness center.
- Completion expected in 2026, enhancing affordable housing options in the area.
Source (Business Wire)
Quotes
“ “This development is a testament to our commitment to create inclusive housing communities where residents of all income levels can thrive. East Austin’s Ross Road development will provide the local workforce with the opportunity to affordably live in the vibrant community where they work.” ”
Max Whipple, Vice President of Development at The NRP Group
Our Take:
The groundbreaking of the Ross Road development by The NRP Group marks a significant step towards addressing Austin's growing need for affordable, high-quality housing. With half of its units dedicated to residents earning 60-80% of the Area Median Income, this project highlights a well-balanced approach to mixed-income housing, fostering community inclusivity while addressing the city's affordability challenges. This development not only meets the demand for essential worker housing but also sets a precedent for future projects in rapidly growing urban areas like East Austin. The partnership with PointOne Holdings and TCFC further solidifies the collaborative effort required to bring such essential projects to fruition.
