Crews broke ground recently on a 228-unit North Austin affordable housing community that will cost $21 million to construct.
The Paddock at Norwood, expected to open by April 2014, will offer one-bedroom units for $755, two-bedrooms for $895 and three-bedrooms for $1050, the Austin American-Statesman reports. The complex is for households earning 60 percent or less of the area's median income.
The project also features a clubhouse, fitness center, a playground and a business center.
Craig Alter, executive vice president of the Strategic Housing Finance Corp. of Travis County, told the Statesman that nearly 30 percent of the $21 million cost will come from income tax credits allocated from the state.
The community will be the first new affordable housing project to rise in North Austin since 1999, Louisville-based LDG Development said in the article.
The city of Austin is hoping voters will approve $65 million in bonds this fall to build and repair affordable housing across the city.
