Training Event: The Fundamentals of Financing Affordable Housing

Join us at the City of Austin Housing Department on Thursday, March 6, from 10am-3pm, to participate in this training. Registration for this event is complimentary. Additionally, please note that capacity for this event is limited, so we highly recommend that you register quickly in order to reserve your spot!

Affordable Housing Preserved Near the Domain through Austin Housing Finance Corporation Acquisition

The Austin Housing Finance Corporation (AHFC) announces the acquisition of Twelve100, a multifamily property near the Domain and along the Northern Walnut Creek Trail. Located at 12100 Metric Boulevard, this strategic acquisition preserves and enhances affordability near major job and entertainment centers. AHFC partnered with the Texas Housing Conservancy and Civicap Partners for the acquisition, which supports long-term affordability as well as provide programs to build community and improve resident outcomes. 

Preservation acquisitions offer one tool in working towards the Austin Strategic Housing Blueprint goals for increasing affordable units throughout Austin. With the acquisition of Twelve100, AHFC has preserved 845 units of naturally occurring affordable housing through acquisitions of 8 existing properties over the last 2.5 years. 

Housing Accelerator Loan Fund Helps Developers Increase Affordable Housing in Central Texas

We are excited to announce the Housing Accelerator Loan Fund, managed by Austin Community Foundation, which provides rapid financing at low interest rates to help increase affordable housing in Central Texas. In 2024, the Austin Housing Finance Corporation (AHFC) Board approved a $5 million loan to the Austin Community Foundation, bringing the growing fund to $16.4M. The Housing Accelerator Loan Fund gives affordable housing developers low-cost loans for short-term needs such as pre-development, land purchases, and bridge financing.

The Housing Accelerator Loan Fund has successfully disbursed eight loans to date, totaling more than $13.5 million. These investments will support the construction of over 1,000 new affordable housing units in the Austin area, addressing the growing need for affordable housing options.

Current partners in the fund include the City of Austin, Hazoor Partners, JPMorganChase, NI, Shield-Ayres Family Foundation, St. David’s Foundation, Tito’s Handmade Vodka, Austin Ventures Charitable Fund, the Jamie Goode Charitable Fund, and other donor-advised fundholders at Austin Community Foundation. Stay current on the latest investments of the Housing Accelerator Loan Fund at https://www.austincf.org/community-impact/housing-affordability/housing-accelerator/.

Austin is Awarded $6.7 Million to Help Austin Housing!

We celebrate being awarded $6.7 million in the second round of the Pathways to Removing Obstacles to Housing (PRO Housing) Grant, administered by the U.S. Department of Housing and Urban Development (HUD). The grant dollars will be used to further develop, evaluate, and implement housing policy plans, improve housing strategies, remove regulatory barriers, and facilitate affordable housing production and preservation. 

HUD received over 200 applications from nearly every state and territory in this additional round of funding. Grants totaling $100 million were awarded to 18 winners. The grant process uses the Community Development Block Grant (CDBG) statutory and regulatory framework. Successful applicants demonstrated a commitment to eliminating barriers to housing and progress toward creating more housing-forward communities. 

Give Feedback on Proposed Short-Term Rental and Preservation Bonus Code Amendments

Short-term rental (STR) code amendments will be considered in February. These changes are needed because the City’s current rules are largely no longer enforceable. The changes will also include new requirements that focus on regulating STR owners, operators, and platforms as businesses and enforcing licensing requirements. The public hearings on these proposed amendments will be held at Austin City Hall, 301 W. 2nd St., on the following dates:  

• Tuesday, Feb. 11, 6 p.m. at the Planning Commission Meeting  
• Thursday, Feb. 27, 10 a.m. at City Council Meeting  

Changes to the preservation bonus in response to City Council direction will be considered in April. This proposed amendment will increase the interior square footage allowed for two new housing units if an existing housing unit is preserved (with no increase to impervious cover). The public hearings on these proposed amendments will be held at Austin City Hall, 301 W. 2nd St., on the following dates:  

• Tuesday, April 1, 2 p.m. at the Joint Planning Commission and City Council Meeting  
• Tuesday, April 8, 6 p.m. at the Planning Commission Meeting  
• Thursday, April 24, 10 a.m. at the City Council Meeting  

Visit publicinput.com/DSDNotice for more information about these sessions.  

Imagine Austin Speaker Series: Austin by the Numbers

Join us for the latest Imagine Austin Speaker Series at the Boyd Vance Theatre, 1165 Angelina Street on February 14, 2025. City Manager T.C. Broadnax and City Demographer Lila Valencia will discuss how Austin uses data to navigate change and plan for the future, covering topics like affordability, equity, and mobility. Moderated by UT Professor Jake Wegmann.

While reservations are not required, they are encouraged. Please RSVP at speakupaustin.org/imagineaustin.

Third Quarter Funding Round Canceled

Due to limited funds remaining in the fiscal year, the Housing Development Assistance Program's Quarter III funding round, which was previously scheduled with an application deadline of February 7, has been canceled. Furthermore, the Quarter IV funding round will be exclusively for developers planning to apply for 9% Low-Income Housing Tax Credits. The deadline to submit an application for Quarter IV is May 7.

Share this Newsletter

You're receiving this communication because you have applied for funding before or worked the City of Austin Housing Department in the past.