The Aldrich 51 mixed-income apartment community located in Mueller in east-central Austin, has received the 2019 Multifamily Excellence Award from the National Association of Local Housing Finance Agencies. The award honors innovative housing initiatives that serve as models for community growth and which are financially viable in providing housing for single-parent households, low-wage workers, seniors, and people exiting homelessness.
Opening in 2018, Aldrich 51 provides housing to households earning between 30 to 60 percent of the area’s median income in 85 percent of its 240 units. Public transportation is available within two blocks, and more than 50 commercial and retail establishments–many of which employ residents of the complex–are within walking distance.
Aldrich 51 was built through a public-private partnership between the City of Austin, DMA Development Company, and Catellus to create affordable housing for working families that is near jobs, transportation, and public services. Financing for the project combined private mortgage funding, $10 million in state low-income housing tax credits, $4 million in City of Austin affordable housing bonds, and U.S. Housing and Urban Development Community Development Block Grant dollars.
“The award for Aldrich 51 recognizes what is possible when committed Austinites work together for the public good,” said Rosie Truelove, director of the City of Austin’s Neighborhood Housing and Community Development Department. “It also demonstrates the City of Austin’s commitment to providing economic opportunities and resources to help meet Austin’s needs for affordability, accessibility, and diversity in our neighborhoods.”
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