AUSTIN, Texas — Applications are now open for a new affordable townhome community in South Austin slated to be completed in March.
The development, called Industry SOMA, is located near William Cannon Drive and South Menchaca Road, at 1905 Keilbar Lane.
The 23 townhomes are a collaboration between developer Industry ATX and the Austin Housing Finance Corporation. Prices will range from $235,000 to $270,000, with the goal of providing the opportunity for homeownership and attracting and retaining families with generational ties to the neighborhood.
“We are grateful to support a townhome community that will provide prospective buyers with an affordable option for homeownership. Affordable home ownership is important to Austinites, helps create stability and helps families build generational wealth,” said Mandy DeMayo, interim director for the Housing Department.
The homes will be sold to families earning up to 80% of the median family income for the Austin metro area. The developer said the goal of the community is to provide affordable housing that is focused on single-family homes, not rental units.
“When people think about affordable housing, they think about rentals, but they don’t think about affordable home ownership,” said Megan Etz, head of operations for Industry ATX. “That rung of the ladder is what we want to get the word out about – that these are brand new homes that they might qualify for.”
The townhomes include vaulted ceilings, quartz countertops, solid wood cabinetry and wood composite flooring. They range from 1,042 to 1,208 square feet and are Green Building Certified.
Twenty townhomes have three bedrooms, 1.5 bathrooms and range in price from $230,000 to $250,000. Three townhomes are four bedrooms, two bathrooms and range in price from $255,000 to $270,000.
The development offers common living areas and green space.
Boomtown is KVUE’s series covering the explosive growth in Central Texas. For more Boomtown stories, head to KVUE.com/Boomtown.