Austin breaks ground on first affordable housing TOD

Transit Oriented Development

Jay Blazek Crossley, May 17, 10.

Foundation Communities, a nonprofit based in Austin, Texas, has broken ground on Austin’s first transit-oriented affordable housing project that will be across the street from the MLK MetroRail Station in East Austin, close to downtown, according to Community Impact Newspaper.

The $24 million project will include 150 units and is expected to be complete by July 2011. The project will also be the first tax-credit funded LEED-rated development in Texas, possibly at the Platinum level, according to Community Impact Newspaper, with $2 million in General Obligation Bonds issued by the City of Austin dedicated to the project.

The City of Austin Planning and Development Department has been working for years to plan for Transit - Oriented Development although their first rail transit service recently began in March.

News 8 Austin notes that Foundation Communities thought of affordability in a holistic manner including housing, transportation, and utilities costs when planning the development:

“We really want it to be affordable not just in the rent, but in the cost for air conditioning and for water,” Walter Moreau with Foundation Communities said. “We have a lot of things in the design to reduce energy and water use.’‘

M Station planners also had travel costs in mind.

It’s located near the MLK train station, bus stops, and close to hike and bike trails. A school, day care and sustainable foods center is also nearby.