Associated Bank has provided a $60.4 million construction loan for Emblem at Tower, a 324-unit affordable housing project planned for 12100 Tower Road in small-town suburb Manor, about 15 miles northeast of Austin. Great Southern Bank joined Associated Bank in the construction loan syndication.
Emblem at Tower will consist of 11 three-story buildings with two-, three- and four-bedroom apartments. The 4 percent LIHTC project will be available to households earning less than 60 percent of the area median income. Residents will have access to a clubhouse with a fitness center, a pool, and an outdoor amenity space, as well as a free 15-hour per week tutoring service. Construction is slated to be complete in early 2027. Dominium is the borrower and developer.
