Austin Housing Fund Approves $21M for 261 Units in 5 Projects

The Austin Housing Finance Corp. approved $21.09 million in loans on Oct. 22 for five affordable developments totaling 261 units. The package draws $20.8 million from the 2022 housing bond and $1.01 million from federal HOME CHDO funds.

The largest award, $7.92 million, goes to Jordan II, a 66-unit Foundation Communities project at 2701 1/2 Philomena St. with a $31.91 million total cost. Units will remain affordable for 40 years at 30% and 50% MFI. The Maven, an 83-unit DMA Development Co. project at 618 E. Highland Mall Blvd., received $5.2 million toward its $30.95 million cost and will include 13 market-rate units.

Rowen Vale, a 64-unit O-SDA Industries project at 206 E. Annie St., received $4.32 million toward a $26.85 million cost, with 45-year affordability. The Lenora, a 39-unit Overland Property Group project at 4507 Menchaca Rd., received $2.64 million toward a $16.28 million cost, also with 45-year affordability. Austin Art Village, a nine-unit Blackland Community Development Corp. project at 1902 E. 22nd St., received the $1.01 million in HOME CHDO funds toward a $4.02 million cost, with a preference for local artists.

Four of the five developments received City Council resolutions of support in early 2026 to apply for 9% Low-Income Housing Tax Credits from TDHCA.