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- The NRP Group Breaks Ground on 328-Unit Mixed-Income Development in Austin, Texas
The NRP Group Breaks Ground on 328-Unit Mixed-Income Development in Austin, Texas
Slice of Real Estate Team
August 16, 2024
Key Highlights:
328-unit mixed-income community in East Austin; half the units reserved for 60-80% AMI.
Features include resort-style pool, coworking spaces, and fitness center.
Completion expected in 2026, enhancing affordable housing options in the area.
Source (Business Wire)
Notable Quotes:
“This development is a testament to our commitment to create inclusive housing communities where residents of all income levels can thrive. East Austin’s Ross Road development will provide the local workforce with the opportunity to affordably live in the vibrant community where they work.”
“We are thrilled to partner with The NRP Group on this project to provide much-needed housing in East Austin. This development will significantly enhance the rapidly expanding neighborhood.”
“This development aligns perfectly with our mission to support the development of high-quality housing in Travis County. We are proud to be part of an initiative that delivers accessible housing to the region’s growing workforce.”
Our Take:
The groundbreaking of the Ross Road development by The NRP Group marks a significant step towards addressing Austin's growing need for affordable, high-quality housing. With half of its units dedicated to residents earning 60-80% of the Area Median Income, this project highlights a well-balanced approach to mixed-income housing, fostering community inclusivity while addressing the city's affordability challenges. This development not only meets the demand for essential worker housing but also sets a precedent for future projects in rapidly growing urban areas like East Austin. The partnership with PointOne Holdings and TCFC further solidifies the collaborative effort required to bring such essential projects to fruition.