South First Street
The SoFi at 6311 Apartments is a 258-unit multifamily housing development located at 6311 South 1st Street in Austin. It is being developed by Marcus Building Company in partnership with TCFC. Per the approved Resolution No. TCFC-2022-02, 50% of the units (129 units) will be reserved as affordable housing for tenants earning up to 80% of the Austin area median income, providing much-needed workforce housing. TCFC is acquiring the land, owning the project, and leasing it back to the partnership while also serving as the general contractor to reduce costs through tax exemptions.
Details
Documents
Resolution No. TCFC 2022-02
June 2, 2022
To authorize the officers of Travis County Facilities Corporation to execute agreements and documentation necessary for the acquisition, construction and operation of the SOFI at 6311 Apartments, a 258-unit affordable housing development, including purchase of land, lease to the developer partnership, and serving as general contractor.
