Austin is plowing ahead with construction of affordable housing for historically underserved populations. The city Housing Department just broke ground on Cairn Point Cameron, a multifamily development at 1500 East St. Johns Avenue that will have 150 studio apartments for adults aged 55 and over who are at or below 50 percent of the median family income level, with 100 units set aside as permanent supportive housing with supportive services.  

The 100,000-square-foot development will consist of four buildings on 4.2 acres, with an average unit size of 520 square feet. Residents will have access to amenities such as a large community room with a kitchen, a  business center, a fitness room, a food pantry, and an outdoor seating area. Medical services, educational and social learning opportunities, and 24/7 access to supportive services will also be available onsite.

The $42 million project is the result of a joint partnership between the Austin Housing Finance Corporation, Caritas of Austin, and developer the Vecino Group. It's also part of Travis County’s Supportive Housing Initiative Pipeline, $110 million project aimed at building more than 2,000 new affordable units in 11 developments, including a number of permanent supportive housing units.

Construction at the Cairn Point Cameron site in progress City of Austin

Funding sources for Cairn Point Cameron include a $6 million loan obtained through AHFC's Rental Housing Development Assistance program and $6.4 million of American Rescue Plan Act funding from Travis County. AHFC also invested about $900,000 annually in 50 local project-based housing vouchers for the development. Additional funding sources are:

  • $20 million in private activity bonds issued by the Austin Housing Public Facility Corporation, backed by a $6.5 million construction loan and a $13.5 million permanent loan from Citibank  
  • $850,000 from a Federal Home Loan Bank Affordable Housing Program award
  • $14.6 million in low-income housing tax credit equity from Boston Financial

Construction of Cairn Point Cameron is expected to be completed in September 2025.