The affordable housing scene in Austin just got a boost with the inauguration of The Loretta, a new apartment complex on the Northwest side. This addition at 13653 Rutledge Spur is set to offer 137 units for families earning at or below 60 percent of the median family income, according to the City of Austin'.
Mandy DeMayo, Interim Director of the Housing Department, asserted, "We're excited to have this beautiful community expand housing options for families in Austin." She highlighted the benefits of energy efficiency, onsite amenities, and the convenience of public transportation with the Lakeline Station of CapMetro’s Red Line nearby. DeMayo credited the success to the collaborative work between Foundation Communities and multiple funding partners to provide for Austin's various income levels.
The development features a mix of one-, two--, and three-bedroom apartments, with a significant portion earmarked for the most financially challenged residents. Fifty percent of the apartments are reserved for households at or below 50% median family income, and 40% for those at or below 60% MFI. The remaining 14 units will cater to at-risk or homeless families, incorporating Foundation Communities’ Children’s HOME Initiative, which offers a 24-month case management program complete with housing assistance and supportive services, as per the City of Austin.
Walter Moreau, Executive Director of Foundation Communities, told the City of Austin, "We are excited to welcome home families to The Loretta," and extended his gratitude for the opportunity to create a supportive environment for residents. The Loretta serves as a complement to the Lakeline Station Apartments, its sister property, and provides additional amenities like an onsite playground, a ball court, plus an array of educational and health programs for children and families.
