Published on December 11th, 2016 | by Editor
Affordable Housing Community Under Construction In Mueller (PHOTOS)
A new affordable housing project is under construction in the master-planned Mueller development. Dubbed Aldrich51, the 4-story project will bring 240 apartments to the neighborhood, with 85% of those units reserved for individuals and families earning between 30 to 60 percent of the area’s median income.
In addition to the 240 apartment units, there will be ground-floor retail and community meeting space. Parking will be provided within a 311-space structured parking garage.
Amenities will include a pool, coffee lounge, community room, and media lounge. According to DMA officials, rents for the affordable units will range from $350 for a studio with 525 square feet to $1,075 a month to a three-bedroom with 1,200 square feet.
According to the Austin American-Statesman, the $40 million project received about $4 million from the City of Austin’s general obligation bond initiative and community development block grants. Leasing is expected to begin in 2017 with the first units becoming available late in the year.
(Renderings by Nelsen Partners)