Red Oaks
11723 N FM 620, Austin, TX | 70 Units 30%, 50%, and 6% AMI
Teri Seanez, 65, moved into a studio apartment at Red Oaks this year. Originally from Edinburg, Texas, she followed her sister to the area in the 1990s and built a long career in the healthcare industry, working as a financial coordinator where she helped patients navigate and pay their medical bills. She also held roles in customer service and grocery preparation at ATB Markets. Now retired, Teri enjoys sewing—creating quilts, aprons, and dresses for her granddaughter—and spending time with her son and three grandchildren in Houston.
Living at Red Oaks has provided Teri with both independence and a renewed sense of community. After previously sharing space with her sister, she now has a home of her own where she can fully pursue her passion for sewing, with room for her equipment and creative work. The community’s location—just three minutes from her sister’s home—allows her to remain closely connected to family despite not driving. Teri has also embraced the welcoming atmosphere at Red Oaks, forming new friendships and even speaking at the community’s grand opening, where she shared her appreciation for the smooth application process and the opportunity to live in a place she describes as both beautiful and supportive.
Red Oaks is a new 70-unit, $26 million affordable housing community located in the Anderson Mill neighborhood of Northwest Austin. Apartments are reserved for renter families earning 30%, 50% and 60% of local area median income (AMI), with rents ranging from $702 for a studio to $2,008 for a three-bedroom. The three-story property has nine studio, 24 one-bedroom, 28 two-bedroom, and nine three-bedroom apartments, ranging from 579 to 1,143 square feet. Residents are steps from everyday essentials, including CVS, Walgreens, gas stations, casual dining, and is minutes from Lakeline Mall, H‑E‑B, parks, transit access, and Round Rock ISD schools such as Purple Sage Elementary.
Despite a wave of new apartments in Austin, teachers, artists, healthcare and service professionals still struggle to find quality affordable housing. Communities like Red Oaks are vital to a balanced and equitable market.
Execution of this project required navigating Austin’s competitive development landscape and rising construction costs to deliver true affordability in one of the nation’s fastest-growing markets. Through public-private collaboration and layered financing, the team delivered an amenity-rich community without compromising quality.
Support Services
Career training programs, job placement partnerships, free income-tax preparation, health fairs, educational classes, community social events, and recreational activities.
Credits
Developer: Housing Trust Group, AM Affordable Housing, Thoman & Butler
Architect / Design Firm: FK Architecture
Lenders: Bank of America, Berkadia
Syndicator: Raymond James
Financing
Funding sources for Red Oaks included $16 million in 9% Housing Tax Credits allocated by Texas Department of Housing and Community Affairs and syndicated through Raymond James; a construction loan of $15.6 million provided by Bank of America; a permanent loan of $7 million from Berkadia through Freddie Mac; and a $4 million RHDA subordinate loan provided by Austin Housing Finance Corporation.
Amenities
Career training programs, job placement partnerships, free income-tax preparation, health fairs, educational classes, community social events, and recreational activities.