County-supported development brings more multifamily housing to market
The Travis County Commissioners Court on Tuesday authorized final approval on a multifamily housing revenue bond for the Kensington apartments.
The property spans 148 units located at 3300 Manor Road. All of the units are intended for those making at or below 60 percent of the area median income, according to county officials.
The Travis County Housing Finance Corporation is issuing the bonds, though it is not a general partner on the project.
Elizabeth Property Group, the developer, is partnering with Integral Care for a property tax exemption to provide social services for residents, as well as veteran housing vouchers through the Veterans Affairs Supportive Housing program.
“I just think it’s a really important thing that we’re doing on a regular basis, and I want people to know about the enormous contribution we’re making,” Commissioner Brigid Shea said, adding that it would be great to get a running tally of the number of units the county has helped “bring to market.” A county official confirmed that number is around 11,500.
The Kensington apartments were originally built in the late 1960s. The developer plans to add units and make substantial renovations – about $50,000 per unit, according to one county staffer.
Commissioner Jeffrey Travillion said that while he was proud of the number of properties, what was more important was that commissioners pay attention to all of the things that make a community stable.
“The idea of affordability is important, but the idea of access to services is important, as well,” Travillion said. “How quickly you have access to the doctor, whether or not you have access to public transportation. All of those things that define what a master-plan community is. I think those are really important.”
Shea asked whether residents will have easy access to groceries and other services. A county official said a fair housing screen, which all properties go through before being presented to commissioners, would ensure that any county-supported development would have access to basic services and transportation.
“So we are looking at all of the things Travillion mentioned through the lens of opportunity, how close transportation is, how close to amenities it is, places of employment, how the schools are graded, all of those things,” Andrea Shields, managing director of Travis County Corporations, said. “So if they don’t pass that initial fair housing screen, we don’t move forward.”
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