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-2023-11
May 18, 2023
To approve and authorize the transactions for multiple apartment projects, including the Real Apartments transaction to be located at 2824 and 2826 Real Street; the Willow East Apartment project to be located at 6400 FM 969; the Tillery Road/Springdale Apartments project to be located at 701 Tillery Street near Springdale Road; the North Lamar Apartment project, formerly known as the Cambrian Apartment project, to be located at 5916 North Lamar; The Burleson Apartments project to be located at 7800 Burleson; the Citizen House Bergstrom Apartments to be located at 7710 Burleson; Citizen House Gilbert Apartments to be located at 6103 North SH 130; Citizen House Decker Apartments to be located at 8800 Hog Eye; Citizen House Howard Apartments to be located at 5121 Howard Lane; Springdale Apartments to be located at 1200 Springdale Road; Blue Ridge Apartments to be located at 290 East Palmer Lane. The resolution also includes authorizing the execution of all necessary documentation for the transactions, authorizing the purchase of land for the projects, and authorizing the Travis County Facilities Corporation to serve as the general contractor; and other matters in connection therewith.
