Feature Photo: The 150-unit development in East Austin will offer supportive, inclusive services for vulnerable residents. Image: City of Austin.
Posted: 7-6-2025
Austin (Travis County) — The City of Austin Housing Department has announced the groundbreaking of Iris Gardens, a new deeply affordable senior living and LGBTQIA2+-affirming community. Developed through a partnership between local nonprofit Family Eldercare and developer Vecino Group, this 150-unit building will provide opportunities for community members who often face barriers to securing affordable housing.
“This new affordable community is an important step in addressing the need for a safe and inclusive place to call home,” says Mandy DeMayo, interim director for the City of Austin Housing Department. “By creating a welcoming and supportive environment, Iris Gardens reflects our commitment to ensuring that all Austinites have access to the dignity, stability, and opportunity that housing provides.”
Located at 1013 Montopolis Drive, in East Austin’s District 3, Iris Gardens will offer a mix of one- and two-bedroom apartments available to households at or below 30 percent, 50 percent and 60 percent of the area median income. Almost half of the units (approximately 65 flats) will be designated as permanent supportive housing for individuals exiting homelessness. Vouchers are available for all 65 PSH units – 50 of which will be project-based vouchers and 15 through the U.S. Department of Veterans Affairs (VA). All 65 vouchers will be referred through the coordinated entry process. The remaining 85 units will be made available through Family Eldercare coordination.
“This is a dream come true, to bring this type of housing to the community,” said Dr. Aaron Alarcon, Family Eldercare CEO. “Our organization—for 42 years—has served the underserved, provided care for those in-need, and has constantly changed and adapted along with our Austin community. Our vision is a world where all vulnerable people in the world thrive, and Iris Gardens is a step toward this world becoming reality for so many.”
Caption: Rendering courtesy of Family Eldercare.
The building will feature a multi-purpose community room, a ground-level fitness center, a conference room and shared laundry areas on the second and third levels. Residents will have access to supportive services, including programs for those exiting homelessness, as well as employment assistance, financial literacy classes, health and well-being classes, and life skills training. Members of the LGBTQIA2+ community will benefit from Rainbow Connections, a Family Eldercare program that provides focused on promoting the well-being and quality of life.
The estimated construction costs for the Iris Gardens development are approximately $50 million. Key funding sources include an $8 million loan from the Austin Housing Finance Corporation (AHFC) through the Rental Housing Development Assistance (RHDA) program, financed by General Obligation (GO) Bonds and Downtown Density Bonus Program – Permanent Supportive Housing funds and approximately $4.5 million of American Rescue Plan Act funding from Travis County. CITI Bank and Redstone Equity provided additional funding and support.
Construction of Iris Gardens is slated for completion in late Spring 2027.
Edited from news release.
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