Ryan Companies US, Inc. announced today the completion of two affordable housing developments in partnership with the Austin Affordable Housing Corporation (AAHC), a nonprofit housing subsidiary of the Housing Authority of the City of Austin. Ryan and AAHC developed The Reserve at Springdale and Urban Oaks, to provide housing for individuals and families in Austin who earn at most 60 percent of the Area Median Income (AMI).
“These beautiful new housing developments will make a significant difference in the lives of nearly 500 Austin families by providing access to modern amenities and a high quality of life at an affordable price,” said HACA President and CEO Michael Gerber. “Partnerships like these are the cornerstone of building successful communities where people can live, work and thrive.”
The Reserve at Springdale, located near the Mueller Airport redevelopment, includes 292 units and features one-bedroom, two-bedroom and three-bedroom apartments. Amenities included are an onsite café, community playground, swimming pool, recreation room, fitness center, conference room/business center and dog washing station. Also available are street facing “Live+Work” units, These “Live+Work” units allow self-employed residents to operate small home-based businesses and activate Springdale Avenue with pedestrian and commercial activity.
Urban Oaks, located in south west Austin, has a mix of townhomes and traditional-style apartments. The 194 unit new construction features one-bedroom, two-bedroom and tree-bedroom floorplans. Tenant amenities include; a swimming pool, fitness center, clubhouse, conference room, playground, outdoor courtyard with grill stations and a business center.
“We are excited about the opening of these two outstanding communities in partnership with Austin Affordable Housing Corporation. Both The Reserve at Springdale and Urban Oaks allow us to provide working Austinites with high amenity homes at close-in metro locations,” said Dave Knoll, Director of Real Estate Development for Ryan Companies. “We couldn’t be happier about providing affordable housing to our neighbors and look forward to future developments with AAHC.”
Ryan and AAHC jointly developed the communities; Ryan provided the construction services and Lincoln Property Company leases and manages the properties.