CBS Austin News is reporting that TAAHP member Texas Capital Bank is the first bank to invest in Affordable Central Texas’ vision to buy existing local apartment communities with the goal of keeping the rents affordable. Austin Mayor Steve Adler says the world is watching as Austin works to provide a public-private partnership platform that encourages private investment in affordable properties where the investor is expected to make a return on its investment. The mayor expects that through this plan the 42,000 affordable units along major transportation corridors in Austin will be retained. The CEO for Affordable Central Texas says the organization will be able to keep rents affordable for generations to come.
From CBS Austin News