The UG TechRidge Apartments is a planned 198-unit multifamily development to be located at approximately the intersection of 4712 East Yager Lane and East Parmer Lane in Austin. It is being developed by Urban Genesis, LLC in partnership with TCFC as approved through Resolution No. TCFC-2023-15. To provide affordable workforce housing options, 10% of the units (20 units) will be reserved for tenants earning up to 60% of the area median income, and 40% of the units (80 units) will be reserved for those earning up to 80% of the area median income. The remaining 98 units will be rented at market rates. TCFC will own the land and project, leasing it back to Urban Genesis' affiliated partnership. This project received approval from the Travis County Commissioners Court on March 26, 2024 and is currently in the approved phase.
September 7, 2023
To authorize Travis County Facilities Corporation to cooperate with Urban Genesis, LLC for their proposed 198-unit UG Techridge Apartments in Austin, including negotiating and executing a term sheet, while reserving the right not to proceed. Also authorizes Urban Genesis to make filings to obtain equity and debt financing for the project.
September 7, 2023
The CBRE report evaluates the proposed 198-unit Tech Ridge Highline multi-family project in Manor, Texas. The project, owned by the Travis County Facilities Corporation (TCFC), is planned as a 4-story building with a mix of market-rate and affordable units. The development relies on a 100% property tax exemption facilitated by the TCFC. The financial feasibility analysis shows that the project is viable only with rent restrictions and tax abatements.