Austin/ Real Estate & Development
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Published on April 05, 2024
Austin Advances Affordable Housing with Forthcoming Parker Lane and New The Markson ComplexesSource: Unsplash/Wiktor Karkocha

It's full speed ahead on affordable housing in Austin, with two complexes gearing up to welcome residents. Parker Lane Apartments, a forthcoming development by nonprofit Foundation Communities, continues its march toward a summer opening in South Austin. The complex will include 135 income-based units on a land parcel formerly housing Parker Lane United Methodist Church, according to KVUE.

 In a separate development, The Markson recently cut the ribbon on 330 mixed-income units in the city's southwest corridor, as per KXAN.

Struggling previously, and basing pricing on multiple factors including size and tenant income, Foundation Communities has yet to finalize the rates for Parker Lane Apartments. Still, their properties typically start at roughly $1,000 monthly. Having an on-site learning center, the complex extends beyond mere accommodation, providing free after-school programs. "Hopefully, our families will move in July," Walter Moreau, executive director of Foundation Communities, told KVUE, highlighting a substantial need for affordable living spaces with over 400 people joining the interested list in a single month.

Over in southwest Austin, The Markson materializes the dreams of the late Dan Markson, known for his vision and transformative impact on affordable housing across Texas. Celebrated by HACA, the new complex will ensure that more than half its units serve residents making 80% or less of the Area Median Income (AMI). Sitting comfortably along Vega Avenue, and flanked by 20 acres of preserved nature, The Markson doesn't skimp on the bells and whistles. It offers tenants amenities like a pet spa and fitness center, drawing on nature with proximity to scenic trails and the Barton Creek Greenbelt. "Be a safe place for people to call home with wonderful amenities, wonderful services, and a connectivity to the broader community," HACA's CEO Michael Gerber stated in a press release obtained by KXAN.

Austin-Real Estate & Development