Austin 292-unit Springdale affordable housing underwayAustin 292-unit Springdale affordable housing underwayhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=113682015-12-04T06:00:00Z2015-12-04T17:00:00Z

​​​​AUSTIN - Construction is underway on an apartment complex that will provide below-market housing. ​​​​

The newest project is the The Reserve at Springdale in East Austin.

The Reserve at Springdale is a four-story apartment complex being built at Springdale Rd. and Rogge Lane, at a cost of about $42 million.

The complex will have 292 units and the first residents should be able to move into their units late 2016, project officials said.

Rents are projected at $801 a month for a one-bedroom unit, $995 a month for a two-bedroom unit and $1,096 a month for a three-bedroom unit.

The developer, Ryan Companies US Inc., is partnering on the project with Austin Affordable Housing Corp., a nonprofit affiliate of the Housing Authority of the City of Austin.

The development is intended to enhance the neighborhood and provide housing for individuals and families earning 60 percent of the median income for the Austin area, which works out to about $36,900 for a family of two and $46,080 for a family of four.

Austin American-Statesman
Austin-Round Rock
http://www.mystatesman.com/news/business/new-projects-adding-to-austins-affordable-housing-/npWqT/Read more at the {Source}

 Search NewsTalk Texas