The NRP Group Breaks Ground on 275-Unit Affordable Housing Apartments North of Austin | Texas News
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Austin, Texas, September 3, 2021 / PRNewswire / – The NRP group , a vertically integrated, world-class developer, builder and manager of apartment buildings, has broken ground for a 275-unit, fully affordable residential community north of Austin, Texas in Williamson County. The NRP Group is building the 4 percent tax credit and developing bonds in partnership with Housing finance company of the capital region (CAHFC).
The James on Grand Avenue at 15701 Farm to Market 1325 Road will help meet the need for more affordable housing for residents earning up to 60 percent of the median income in the area. The development will consist of seven three- to four-story buildings, each with a range of one to four-room units.
“We are excited to be working with our long-term partners at Capital Area Housing Finance Corporation on this exciting, affordable community for families and professionals nearby Austin,” called The NRP Group Senior Vice President for Development Jason Arechiga. “CAHFC shares our mission to create exceptional housing for all tenants regardless of income. Population growth and housing demand in Austin has exploded in recent years as tech companies like Tesla, Apple, and Samsung move to town. The need for affordable housing for residents with moderate income profiles is extremely high. “
The James on Grand Avenue is in close proximity to a variety of shops and restaurants, including Austins first class shopping malls and lifestyle destinations. The development is also just three miles east of Apple’s new billion-dollar campus, which is currently under construction and is expected to bring thousands of jobs and billions in investments to the region. Apartment amenities include a resort-style pool; Barbecue pits; a fitness center; a community and business center; a children’s center and a playground. Comprehensive services include financial literacy training, after-school programs, and first-time home buyer programs that address residents’ needs and priorities directly.
“Williamson County remains an attractive and sought-after destination for professionals and families looking for affordable, pedestrian-friendly housing in close proximity to workplaces and great schools, “said Executive Director of the Capital Area Housing Finance Corporation (CAHFC) Jim Shaw. “CAHFC is dedicated to building workforce and affordable housing in central Texas with resident experience in the foreground. We’re excited to be working with a trusted developer like NRP Group to bring an affordable community of this size to market. “
Start of leasing expected in August 2022, the final completion is planned for June 2023.
About the NRP group
The NRP Group is a vertically integrated developer, owner, builder and manager of first class apartment buildings. Since its inception in 1994, NRP has developed more than 43,000 apartment buildings and currently manages over 23,000 residential units. The company uses the full range of its in-house skills to accomplish its mission: to create exceptional rental homes for individuals and families regardless of income.
Through its disciplined approach to opportunity review, NRP has built a track record of generating impressive returns for investors. The impressive size and depth of the company’s talent provides the experience and infrastructure necessary to conduct developments of varying complexity and scope in both urban and suburban locations, including marketable, affordable and senior housing. A three-time recipient of the National Association of Builders Multifamily Development Firm of the Year and recognized as a Top 25 Developer by Multifamily Executive, NRP leverages decades of expertise by also providing construction and property management services to outside owners and developers. For more information, see www.nrpgroup.com
About CAHFC
The Capital Area Housing Finance Corporation (CAHFC) was established in 1981 to meet the housing needs of workers in. cover up Central Texas. CAHFC offers high quality rental housing for people with specific income needs as well as single family home support for first time buyers. The company works with consultants, property developers, brokers, lenders and local executives to build relationships that benefit the residents of the area, their communities and counties. CAHFC helps meet the housing needs of working-class families in the following counties: Bastrop, White, Burnett, Caldwell, Fayette, Hays, lee, Llano and Williamson Counties as well as the City of San Marcos. By providing housing programs and building local and regional partnerships, CAHFC helps residents realize their dreams of owning a home while contributing to the region’s economy and quality of life.
MEDIA CONTACT:
Samantha DePasquale
Antenna | Spaces
nrpgroup@antennagroup.com
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SOURCE The NRP Group
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