AUSTIN, TEXAS — The NRP Group, a multifamily developer based in Cleveland, has completed Bridge at Estancia, a 318-unit affordable housing project in South Austin. Designed by HEDK Architects, the property is located on a 15-acre site within the 600-acre Estancia Hill Country master-planned development. Units come in one-, two-, three- and four-bedroom floor plans and are reserved for renters earning 60 percent or less of the area median income. Amenities include a pool, fitness center, outdoor grilling and dining areas, business center, activity room and a playground. Financing for the project included a $20 million housing tax credit investment from Hudson Housing Capital, along with construction and permanent financing provided by BWE and Deutsche Bank.
The income restriction at Bridge at Estancia, a 318-unit affordable housing community in Austin, is 60 percent of area median income, which translates to starting rents of $1,200 per month for a one-bedroom apartment.
NRP Group Completes 318-Unit Affordable Housing Project in South Austin
177