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