DMA Development Companies unveiled plans for its next mixed-income apartment complex, Talavera Lofts, which will be built west of the Saltillo commuter rail station on Austin’s east side. The five-story, 100-unit project at East 5th and Navasota Streets is being financed, in part, by $1.4 million in tax credits from the Texas Department of Housing and Community Affairs.
Designed by Nelson Partners, most of the units will lease at rental rates affordable to households with incomes from 30%-60% of the Area Median Income. DMA Development expects to break ground on Talavera Lofts in early 2020, and will open in early 2021.
“DMA is honored to have been selected to develop this much-needed affordable housing component at Saltillo,” said DMA’s Diana McIver. “The award of tax credits is the culmination of four years of collaboration by all the parties involved – and reflects the values of the neighborhood as well as the needs of future residents.”