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Austin: 285-Unit Affordable Apartment Complex Proposed for South Congress

Featured Photo (above): A 285-unit affordable apartment complex is eyed for a vacant South Congress Avenue tract. Image: Google Streets

Posted: 5-26-20

By Edmond Ortiz
Austin (Travis County)A 285-unit affordable multifamily community with units designed for disabled tenants is proposed for construction along South Congress Avenue.

The Matador multifamily residential development would be located near Stassney Lane. Image: City of Austin

LDG Development, based in Louisville, Kentucky, plans to build The Matador on a 3.39-acre lot at 5900 S. Congress.

The undeveloped property lies south of Williamson Creek and north of Stassney Lane.

There will be 126 one-bedroom and 159 two-bedroom units. Eighty-six of the units will be allocated for households earning up to 50% of area median family income (AMFI). 

There will be a set aside of 113 apartments for households earning 51%-60% of AMFI.

The remaining apartments will be dedicated for households earning 61%-70% of AMFI.

Fifteen of the units will be reserved for mobility-impaired tenants, and another seven units will be designed for sensory-impaired tenants.

The estimated construction cost is $27 million. The developer has not yet revealed an estimated construction schedule or delivery method.

LDG plans to finance the project with 4% housing tax credits, pending application approval, and with bonds issued by the Housing Authority of the City of Austin.

VBX members may track this project using ID number: 2020-3F65.

LDG has developed more than 10,000 low- and mixed-income housing units nationwide.


edmond@virtualbx.com

Related Images

Construction Preview
By |2020-05-26T14:37:12-05:00May 26th, 2020|Construction Preview, Feature Story|

About the Author:

Edmond Ortiz is a lifelong San Antonian and a 20-plus-year veteran in local journalism, He previously worked full-time at the San Antonio Express-News, and has been freelancing for outlets such as the Rivard Report.

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