Hunt Capital Partners has secured $16.5 million in federal Low-Income Housing Tax Credit (LIHTC) equity for the development of Cady Lofts, a 100-unit affordable housing project located in Austin. This new development is a permanent supportive housing (PSH) property that will consist of 100 studio homes, aimed at increasing the availability of affordable housing for low-income households, individuals experiencing homelessness, and those with physical or developmental disabilities.
The Cady Lofts will offer studio apartments to renters earning between 30 and 60 percent of the area’s median income. Residents will have access to various amenities including a communal computer lab, health and wellness center, case management offices, and central laundry facilities.
The borrower behind this project is a partnership between developer SGI Ventures and the Housing Authority of the City of Austin. The design work is being handled by Three Bar Architects Inc., while Skybeck Construction has been selected as the primary contractor for construction. Completion is expected by March 2025.
This latest achievement from Hunt Capital showcases their commitment to providing much-needed support towards creating more affordable housing options in Austin without compromising on quality or accessibility.
