A multifamily project with 55 affordable units — half of the complex’s 110 apartments — is headed to the Dawson neighborhood in South Austin.
Austin’s Notional Development Partners is developing the property at 600 Cumberland Road, which will be an eight-story, 110-unit, mixed-use building with apartments and a restaurant/retail storefront. Half of the apartments will be reserved as affordable housing for residents earning between 50 and 80 percent of the area median income.
Groundbreaking is expected to take place in spring 2025 with a targeted grand opening date in 2027.
“We’re focused on bringing more workforce housing to Austin,” Notional’s Chris Affinito said. “Rising rents have forced many people to live in the suburbs and have long commutes into town. Our teachers, medical workers, first responders and others who serve such important roles for our community deserve to be able to live in our community.”
The 99,480-square-foot project will have 86,200 square feet for residential use and includes e a pool, a fitness center, business centers, a lounge, and below-grade parking. All units will have the same quality of amenities regardless of designated affordability level, according to Notional.
The property will also have 8,050 square feet for commercial use and amenities, including a restaurant/food and a retail space, and 4,630 square feet for mechanical and storage.
Momentus Capital’s Capital Impact Partners, a Virginia-based nonprofit lender with Austin offices, is funding the project.
Notional is "experienced in affordable housing development in Austin, which is one of our core focus regions,” Capital Impact’s Sarah Ransome said. “This building will bring more affordable housing into a high-opportunity area where there’s been a lack of affordable options — and where housing costs are only continuing to rise. Right now, the average rental price within a mile of this site is $1,715 per month, higher than the city’s average rental price of $1,593.”
Notional Development Partners is developing a similar multifamily complex at 1418 Frontier Valley Drive in Montopolis (pictured above). Half the apartments in the five-story, 101-unit building are reserved as affordable housing at an average of 60 percent of area median income. The building includes gated surface parking, business centers, a lounge, a fitness center, and a pool with courtyard amenities. Construction began in October 2023 with an anticipated grand opening in early 2025.
