O-SDA Industries and Saigebrook Development have recently unveiled Saison North, a new multifamily community in Austin, Texas. The 116-unit complex is located at 10010 North Capital of Texas Highway, conveniently situated between highways 1 and 183.
The project was a collaborative effort between O-SDA Industries, Saigebrook Development, nonprofit TCHFC as co-managing member, Skybeck Construction as general contractor and Three Bar Architecture for design services.
Financing for the project included $19.5 million in construction financing from Bank OZK, $17.3 million in federal LIHTCs syndicated by Hunt Capital Partners ,a $12.9 million permanent loan from JPMorgan Chase,a $6.2 million soft loan from Austin Housing Finance Corp.,and nearly$3millionfromother sources.
Out of the total unit count of116,residences designated affordable make up70 percent(82 units), catering to individuals earning at or below30%,50%and60%ofthe area median income thresholds.
Residents can enjoy various common-area amenities such as a fitness center,dining room,business center,and lighted pathways.Additionally,the property will provide childcare services and adult support programs to its residents upon opening its doors.The grand opening marks an important milestone for this$60Maffordable housing developmentinAustin,Texas.
