Industry Soma, will be near Menchaca Road and William Cannon Drive and will feature 23 attached townhomes that will be available for households at or below 80% of the area‘s median family income. Currently, in Austin, 80% of the median family income is about $75,000 per household.
Mark Odom Studio is the architect.
Construction began this month and will wrap in fall 2023.
Current plans call for 20 of the townhomes to be priced at $235,000. The 1,042–square–foot units will have three bedrooms and one and a half baths. The other three units are being built with accessible handicap access, with one of the bedrooms on the ground floor. They will be 1,208 square feet with four bedrooms and two bathrooms and will be priced at $265,000.
The developer received $3 million in grants, which is what offsets the cost of the townhomes.
Austin voters in 2018 approved a $250 million housing bond. By the end of this fiscal year, 90% of that money will be spent. Austin has built about 6,000 affordable homes using bond money.
Applications are currently being accepted to purchase an Industry Soma unit. Complete the form below for more information.
Source: Austin American-Statesman