A partnership between two developers and a local housing authority is addressing the rising housing costs that have made affordability one of the biggest challenges for Austin.
Irving-based the NRP Group, Florida-based PointOne Holdings and the Travis County Facilities Corporation have started construction on a 328-unit affordable housing development at 6205 Ross Road in Southeast Austin, near Tesla’s Gigafactory, the Austin Business Journal reported.
Half of the units will be allocated for residents earning between 60 percent and 80 percent of the area median income. The 60 percent AMI for a family of three in Travis County was $63,120 as of last June, according to the Austin Housing Department.
The four-story, 16.5-acre development will offer one- and two-bedroom floor plans ranging from 685 to 1,350 square feet. About 8 acres will be dedicated to amenities including a pool and a dog park. It is expected to be completed in 2026.
NRP Construction is serving as the project’s general contractor, while Lord Aeck Sargent is the architect. The project is near Austin-Bergstrom International Airport and aims to complement Southeast Austin’s rapidly evolving landscape, where mixed-use projects like Presidium Group’s Velocity are in development.
Tesla brought encouragement to the area with its Gigafactory, where it builds its Model Y and Cybertruck vehicles. But the picture is not all rosy.
Tesla informed nearly 2,700 workers they would be laid off from the Gigafactory in April. The company had rapidly increased its headcount by 87 percent, employing 23,000 workers last year, compared to 12,227 in 2022, KVUE reported. Just as job creation feeds apartment occupancy, layoffs can affect apartment vacancy.
“No warning at all. I don’t have a job … Can’t pay my rent. So, I’ve got to find something else to do to make ends meet,” a laid-off employee told the outlet in April.
— Andrew Terrell
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