HACA Uses Tax Credits for Public Housing Project

AUSTIN, TX—One of Housing Authority of the City of Austin’s first redevelopments of a public housing property formerly known as Goodrich Place at 2126 Goodrich Ave. has been renamed Pathways at Goodrich Place. It is located in the Zilker Neighborhood, one of Austin’s highest opportunity areas.

The property is being redeveloped as part of HUD’s Rental Assistance Demonstration/RAD, a federal initiative to improve the quality and availability of federally assisted housing. According to HUD, Pathways at Goodrich Place represents the 100,000th public housing unit being converted through RAD. The redevelopment will result in significant quality of life improvements for residents and the community.

“The new Goodrich Place will mean better housing and better services for our existing residents, and added affordable units in one of Austin’s highest opportunity neighborhoods,” said HACA president Michael Gerber.

Through the RAD program, all 40 existing public housing units at Goodrich Place have been removed. HACA was recently awarded $15 million in competitive housing tax credits from the Texas department of housing and community affairs for the construction of new units at the property. This is the first time in HACA’s 80-year history that the agency has applied for competitive housing tax credits.

The project will be 100% affordable housing due to a vote by the community to retain the fully affordable status, Gerber says.

“We thought we might leave 10 units at market rate but the community said no,” Gerber tells GlobeSt.com. “They were very thoughtful about it. The Zilker neighborhood association, mayor and elected officials are very passionate about public housing and committed to residents.”

All current Goodrich residents will have the right to return to the property once construction is complete. Residents will have access to onsite health and wellness programs, youth enrichment activities and job training opportunities. There will be 40 units for residents with 30% of median income, and 120 units for residents with 60% to 80% median income, GlobeSt.com learns.

“Zilker Park has lots of jobs and higher education options in order to enrich the lives of our public housing residents,” Gerber tells GlobeSt.com. “These are real homes and real lives. The tenant piece has been rewarding. We have listened and walked alongside the tenants to create a better quality of life for residents, and included job training, after-school programs, linkage to opportunities, larger meeting spaces, etc. The tenants gave useful information for decision-making.”

The new mixed-income development will consist of a three-story wrap-style building with one-, two-, three- and four-bedroom units. Pathways at Goodrich Place will include improvements such as a fully furnished clubhouse, business center with computer and Internet access, fitness center, onsite laundry facilities, playground and community meeting room. Updated unit features will include washer and dryer hookups, walk-in closets, covered patios and balconies, high-speed cable and Internet access, 9-foot ceilings, and green features such as Energy-Star or equivalent-rated appliances.

HUD secretary Ben Carson and Federal Housing commissioner Brian Montgomery joined HACA, its development partners, Atlantic | Pacific Communities and Madhouse Development Services, and the Austin community to celebrate the groundbreaking last month.

For more information on multifamily news, join GlobeSt.com at RealShare Apartments in Los Angeles from October 29-30, 2018. RealShare Apartments brings together  the industry’s top owners, investors, developers, brokers and financiers as they gather for THE MULTIFAMILY EVENT OF THE YEAR! This conference leverages the strength of ALM’s Real Estate Forum and GlobeSt.com which reports daily on the multifamily sector. Register for RealShare Apartments.