Housing Trust Group Completes $26M Affordable Housing Project in Northwest Austin

AUSTIN, TEXAS — Miami-based Housing Trust Group (HTG) has completed Red Oaks, a $26 million affordable housing community in northwest Austin. Red Oaks features 70 units that are reserved for households earning up to 30, 50 and 60 percent of the local area median income. Amenities include a pool, fitness center, playground, outdoor grilling areas, a dog park, clubroom and package lockers. HTG partnered with nonprofit group AM Affordable Housing and locally based consulting firm Thoman & Butler on the project. Bank of America provided a $15.6 million construction loan for the project, and the capital stack also included $16 million in Low-Income Housing Tax Credits that were allocated by the Texas Department of Housing and Community Affairs and syndicated through Raymond James.