Feature Illustration: The Ivory is the second community of The Chicon. Image: City of Austin.
Posted: 7-30-2024
Austin (Travis County) — The Austin Housing Department recently celebrated the groundbreaking for more affordable housing units in East Austin. The Ivory is located in District 1 at 1309 Chicon Street.
It is Austin’s first carless community, designed with 100% electric needs produced with on-site solar. The property will consist of 3 commercial condos and 53 residential condos, with 40 units available to households earning at or below 70% Median Family Income (MFI) and the remaining 13 units available at market rate.
“We are excited to announce the groundbreaking of The Ivory, said Mandy DeMayo, interim director of Austin Housing Department. “This innovative development offers much-needed affordable housing and encourages a carless lifestyle to improve the quality of life for our residents. We are proud to partner with the Chestnut Neighborhood Revitalization Corporation on this development and are eager to continue our efforts to build a more inclusive and sustainable Austin.”
Other sustainable features of The Ivory include: each resident receives an electric bicycle to keep from local MOD Bikes when they close on their condo; two (2) e-vehicles will be on-site for use only by the residents; a new covered bus canopy with artwork to be chosen by the community will be installed (in collaboration with CapMetro); and four (4) B-cycles will be installed—all making car ownership a choice at the property.
The Ivory is Phase II of The Chicon, with Phase I completed in October 2018. Both are mixed-use properties developed by the non-profit developer Chestnut Neighborhood Revitalization Corporation (CNRC). Phase I of The Chicon consists of two buildings with 28 ownership units—21 of which are available to households earning at or below 80% MFI. As authorized by the Austin Housing Finance Corporation (AHFC) Board in 2012, the land for both phases of The Chicon was acquired by CNRC; those funding sources include approximately $1 million in funding through the 2018 General Obligation (GO) Bonds and $293,658 in HOME funds.
“CNRC is so excited to deliver this amazing project to East Austin. Our local board of directors has worked so hard over the last ten years to provide both Phase 1 and now Phase 2 of The Chicon. The City of Austin and Austin Housing Finance Corporation have been great partners with us on both projects. And, we are also so excited to set the bar high for what true sustainability and affordability looks like in Austin, said Sean Garretson, board President with CNRC.”
Edited from news release.
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