Feature Illustration: Artist rendering of the Anita Coy redevelopment in Austin. Image: Studio Schafer.
Posted: 3-4-2026
Austin (Travis County) — The NRP Group, a vertically integrated, best-in-class developer, builder, and manager of multifamily housing, in partnership with the Austin Independent School District (AISD), recently announced the financial closing and groundbreaking of the first phase of the Anita Ferrales Coy school-to-housing redevelopment.
The 675-unit, amenity-rich community will break ground in two phases: Phase 1 will comprise the first 341 units, while Phase 2 will launch construction of an additional 334 units, estimated to break ground late this year. The landmark mixed-income community will help address Austin’s escalating housing affordability crisis, and is strategically designed to expand quality housing options for cost‑burdened residents and essential workers, including AISD teachers, bus drivers and staff.
This project reinforces The NRP Group’s commitment to delivering exceptional rental opportunities for individuals and families across the U.S., regardless of income. Repurposing underutilized land through innovative public‑private partnerships has long been part of NRP’s strategy for expanding housing supply in high‑demand markets.
“Austin ISD educators and staff are facing historic affordability pressures, with rising housing costs forcing many to live far from the students and campuses they serve,” said Matias Segura, superintendent of Austin ISD. “Two‑thirds of AISD employees identify as cost‑burdened, and our district has seen the impact on our ability to attract and retain talent. The Anita Coy redevelopment represents a bold, unique solution that will bring stability and wellbeing to the entire district, and serves as a blueprint for how school districts can use their physical assets to invest in their teams and uplift neighboring communities moving forward.”
Located at 4812 Gonzales St., the 18-acre site will comprise two multi-story buildings featuring one-, two- and three-bedroom residences designed for working professionals and growing families. Fifty percent of the units will be rent and income‑restricted: 10% for households earning up to 60% of Area Median Income (AMI) and 40% for households earning up to 80% AMI, with the remaining 50% offered at market rates. Under a long-term ground lease agreement, AISD is leasing the land to The NRP Group, creating a sustainable revenue stream for the district while facilitating the rent and income-restricted units. The site is located within a federally designated Opportunity Zone, a program established by the Tax Cuts and Jobs Act of 2017 to encourage investment in historically underserved communities.
Each residence will include quartz countertops, stainless steel appliances, modern cabinetry and high-end finishes. Residents of the property will also enjoy a robust amenities package, including a resort-style pool, co-working lounge, fitness center, parking garage and shared outdoor gathering spaces. The development will also include a publicly accessible green space with preserved heritage trees, along with walking paths, murals and installations contributed by local artists.
“This site has served children for generations, and now we have the opportunity to support the families who keep Austin running,” said Nick Walsh, vice president of development at The NRP Group. “Across the city, cost‑burdened residents, including those who educate our children, staff our schools, run our transit systems, and keep our retail and service economy moving, are being priced out of Austin’s housing market. This mixed-income community is designed to provide a high‑quality, attainable housing option for the workforce that forms the backbone of this city, and to support AISD teachers, staff, and families who deserve the opportunity to live in the communities they serve.”
Edited from news release.
Experience counts and customer service never goes out of style. Find your next project with just a click, or call us at 1.877.221.6418. Follow us on Facebook, Instagram, or LinkedIn.
