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AHA! housing complex fully funded

Tuesday, December 18, 2018 by Chad Swiatecki

Austin Community Foundation has invested $250,000 in the Texas Impact Housing Fund to cover the remaining construction on AHA! at Briarcliff, an accessible housing complex in Northeast Austin. The investment allows the Texas State Affordable Housing Corporation to increase financing for the Briarcliff project to $995,000, a $300,000 increase, with a 2.5 percent interest rate over a two-year construction period. The three-story complex will feature 27 units, half of them accessible for those with disabilities and the other half adaptable. Units will be priced for those with incomes at less than 50 percent of the Austin area’s median family income, and construction is expected to begin early next year. Accessible Housing Austin, the nonprofit group developing the project, has secured $3.7 million in additional financing from the city of Austin, Texas Department of Housing and Community Affairs and an affordable housing grant from Frost Bank of Dallas. The project will be exempt from local property taxes through a partnership with the city Housing Authority.

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