Boston Capital investment will create 70 affordable homes for families in Austin, Texas

Nov 15, 2018

Boston Capital is investing in the construction of Aria Grand, a 70-unit apartment community for families in Austin, Texas. The developer partners are O-SDA Industries and Saigebrook Development LLC, based in Austin.

Located in the Travis Heights neighborhood in Austin, Aria Grand will be built with tax credit equity from the Low Income Housing Tax Credit (LIHTC) program and will serve 60 families earning 60 percent or less of the Area Median Income (AMI). Ten (10) units will also be available to families at market rental rates.

“The City of Austin and its surrounding communities feature strong and diverse local economies, booming populations, and high demands for affordable housing,” said Jack Manning, president and CEO of Boston Capital. “We are excited to once again partner with Megan Lasch, Lisa Stephens and the teams at O-SDA Industries and Saigebrook Development in the construction of Aria Grand which will create much-needed affordable homes for families and individuals.”

Located on nearly 1.5 acres, Aria Grand will include 12 one-bedroom, 30 two-bedroom and 28 three-bedroom units. Unit amenities will include central air conditioning, new EnergyStar appliances including dishwashers and full-size washer/dryer connections. Community amenities will include covered parking, a two-level 2,500 square foot clubhouse, community room, computer center and on-site management offices. Additional amenities will include covered bike parking and picnic areas.

Thirty (30) affordable units will be available to families and individuals earning 60 percent or less of the area median income (AMI), 24 units will be available at 50 percent of the AMI and six units will be available at 30 percent of the AMI. Seven (7) units will be set aside for Permanent Supportive Housing (PSH) for very low- and extremely low-income adults with disabilities. Ten units will be available at market rental rates.

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