Mixed-Income Community Moves Forward in Austin
The Dallas MSA continues to have strong demand for the foreseeable future, most notably with its addition of more than 100,000 jobs during the past year and almost 75,000 new residents in the same period.
AUSTIN, TX—DMA Development Company LLC is moving forward with a mixed-income multifamily community where the majority of rental rates will be within reach for low-income residents. Called Talavera Lofts, the majority of residences—90 of the 92 apartment units—will be accessible to incomes ranging from roughly 30% to 60% of the area’s median income. Presently, the AMI of 60% is equal to an annual income of $56,760 for a family of four.
The five-story community will feature nearly 100 units located on the southeast corner of East 5th and Navasota streets, immediately west of the Plaza Saltillo commuter rail station. Designed by Nelsen Partners, the community will have a mix of studios as well as one-, two- and three-bedroom apartments connecting to the rail station and the Lance Armstrong Bikeway.
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