An apartment complex offering 318 affordable units has opened in the Austin metro. The Housing Authority of the City of Austin and the NRP Group The Housing Authority of the City of Austin the NRP Group, headquartered in Ohio, developed the project.
Bridge at Estancia at 1100 Avenida Mercado Street, near the intersection of Interstate 35 and State Highway 45, is part of the Estancia Hill Country master plan, a 600-acre mixed-use development. The community is adjacent to the planned Texas Children’s Hospital, as well as future commercial and retail spaces, and additional housing developments.
Designed by HEDK Architects, Bridge at Estancia has one- to four-bedroom units for residents earning up to 60 percent of the area median income. Apartments include private patios or balconies, high ceilings, vinyl plank flooring, and fully equipped kitchens with quartz countertops and recessed lighting. Monthly rent ranges from $1,199 to $2,037.
The 15-acre site has two four-story buildings, two three-story walk-ups, and a two-level parking garage. Community features include an open courtyard, barbecue grills, an outdoor pool with a sundeck, and coworking space.
The development also has a dedicated activity space for resident services such as health screenings, after-school programs, and financial literacy training, for which developers partnered with nonprofit group Community Housing Resource Partners.
Hudson Housing Capital made a $20 million tax credit-investment in the project. Bellwether Enterprises and Deutsche Bank provided construction and permanent financing.
