Housing Trust Group, working in partnership with AM Affordable Housing, has completed Red Oaks, a new affordable multifamily community in the Anderson Mill neighborhood of Northwest Austin. The development delivers 70 income-restricted apartments at a reported cost of $26 million.
Red Oaks is located at 11723 N FM 620 and is configured as a three-story, garden-style residential building. The community offers units ranging from studios to three-bedroom apartments, with floor plans spanning from 579 to 1,143 square feet. The property is designed to serve renter families at a range of income levels tied to local benchmarks.
All apartments at Red Oaks are reserved for households earning 30%, 50% and 60% of the local area median income. Published rents start at $702 per month for a studio and reach up to $2,008 per month for a three-bedroom unit. These income and rent restrictions position the project squarely within the affordable housing segment.
On-site amenities at Red Oaks include a swimming pool, fitness center, playground and an outdoor grilling area. These shared spaces are intended to support resident recreation and daily living while complementing the affordable rent structure.
The capital stack for Red Oaks incorporates multiple public and private funding sources. The project received $16 million in 9% Low-Income Housing Tax Credits (LIHTC), supporting the income-restricted nature of the community. A construction loan of $15.6 million was provided by Bank of America, while long-term financing includes a $7 million permanent loan from Berkadia through Freddie Mac. In addition, the Austin Housing Finance Corporation supplied a $4 million RHDA subordinate loan.
The development team for Red Oaks includes Waltz Construction as general contractor and FK Architecture as the project architect. Together with Housing Trust Group and AM Affordable Housing, these firms delivered the new community in Northwest Austin’s Anderson Mill neighborhood.
