NRP Group has recently unveiled the Bridge at Estancia, a new affordable housing community in Austin consisting of 318 units. This development is specifically designed to accommodate residents who earn up to 60 percent of the Area Median Income (AMI), with rent prices ranging from $1,199 to $2,037.
Conveniently located at 1100 Avenida Mercado Street near Interstate 35 and State Highway 45, Bridge at Estancia is part of the larger Estancia Hill Country master plan which spans over a sprawling area of approximately 600 acres and offers mixed-use facilities.
The construction and permanent financing for this project were made possible through a generous investment worth $20 million from Hudson Housing Capital. Additionally, Bellwether Enterprises and Deutsche Bank also contributed towards its completion. In December of last year (2021), Austin Affordable Public Facility Corp issued Multifamily Housing Revenue Bonds totaling $57.9 million with BOKF Bank serving as trustee.
Designed by HEDK Architects, each apartment boasts private patios or balconies along with high ceilings that add an element of spaciousness to these homes. Other features include vinyl plank flooring throughout the living spaces as well as fully equipped kitchens complete with quartz countertops and recessed lighting fixtures for added convenience.
This latest development by NRP Group serves as another milestone in their commitment towards providing quality affordable housing options for residents in need while simultaneously contributing towards sustainable urban growth within Austin’s expanding real estate market.
