Real Street Apartments
The Real Street Apartments is a planned 290-unit multifamily development located at approximately 2824-2826 Real Street in Austin. It is being developed by The Geyser Group in partnership with TCFC as approved through Resolution No. TCFC-2022-06. Of the 290 total units, 60 units (21%) will be permanent supportive housing units reserved for those earning an average of 38% of the area median income. An additional 17 units (6%) will be reserved for tenants earning up to 60% of the area median income, and 66 units (23%) will be for those earning up to 80% of the area median income. The remaining 143 units (50%) will be rented at market rates. TCFC will own the land and project, leasing it back to the partnership. This development received approval from the City of Austin and Travis County.
Details
Documents
Resolution No. TCFC 2022-04
July 7, 2022
To approve partnerships between Travis County Facilities Corporation, Travis County Supportive Housing Collaborative, and developers to provide property tax exemptions and support the development of permanent supportive housing at three locations in Travis County.
Resolution No. TCFC 2022-06
October 6, 2022
To induce the development of Real Street Apartments, a proposed 290-unit affordable housing project, by authorizing negotiation and execution of a Term Sheet with 2824/2826 Horizontal Investors, LP outlining the terms of Travis County Facilities Corporation's partnership in financing, acquiring, constructing, and operating the development.
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.
