Belmont
The Belmont Apartments is a planned 348-unit multifamily development located in Austin. It is being developed by NRP Group in partnership with TCFC as approved through Resolution No. TCFC-2023-11. To provide affordable housing options, 10% of the units (35 units) will be reserved for tenants earning up to 30% of the area median income, 62% of the units (215 units) will be for those earning up to 60% of the area median income, and 28% of the units (98 units) will be for those earning up to 70% of the area median income. This project received approval from the Travis County Commissioners Court on March 26, 2024 and is currently in the approved phase before construction begins. TCFC will own the land and project, leasing it back to the partnership.
Details
Documents
Resolution No. TCFC-2023-17 Belmont
October 4, 2023
To consider the application of an affiliate of NRP Group, LLC relating to the proposed financing of up to $60,000,000 of the costs of the acquisition, construction, and equipping of the Belmont Apartments project and other related matters, including authorization to file applications for bond allocation and take other necessary actions, subject to the terms outlined in the resolution.
