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AUSTIN-The Federal Home Loan Bank of Atlanta has awarded a $350,000 grant to rehabilitate a 68-unit apartment complex in Austin as condominiums for affordable housing. The units are to be sold to mixed-income purchasers including low- and very low-income residents.

The grant went to Grant Community Development Corp. and Compass Bank. It was part of an $18.6 million in Affordable Housing Program grants the bank made to develop housing for 3,594 eligible families in 11 states and the District of Columbia. Habitat for Humanity in Bryan and College Station received $180,000 from the funding for 15 new homes in the area.

The Austin units are to be marketed through a lease-purchase program. The Federal Home Loan Bank of Atlanta could not be reached to determine the apartment complex’s location in Austin.

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