Tax Credit Development in Austin

Tax Credit Development in Austin

Tax Credit Recipients, 1987-98

Since 1987, the Texas Dept. of Housing and Community Services has approved tax credits for almost 3,000 apartment units in Austin. The vast majority are in East Austin; none are in Central or West Austin.

Here are all the projects of over 50 units approved for tax credits in that 12-year period:

Project Total Units

1 Windcrest on Yager Lane 360

2 Arrowhead Park Apts. 290

3 Windcrest Parkside Apts. 228

4 Country Club Creek 212

5 Merrill Homes for Seniors 204

6 Gardens of Decker Lane 150

7 Trails at the Park 148

8 French Embassy 142

9 Elmridge Apartments 130

10 Greentree Apts. 122

11 St. John's Village 117

12 Springhollow Apts. 99

13 Douglas Landings 96

14 Highland Cove Apts. 88

15 The Timbers 78

16 Austin Oaks 68

1999 Proposed Tax-Credit Developments

Of all the Austin projects requesting tax credits this year, only one was approved: Spring Valley Townhomes in Southeast Austin, a proposal by developer Monday Esiere, who has had four projects approved in the past three years, but has yet to complete one.

None of the three projects proposed west of I-35 -- including Southwest Trails, the first ever planned for Southwest Austin -- got funded.

Requested Total Low

Project Credits Units Income

1 Spring Valley Townhomes $1,091,603 230 173

2 Fort Branch $1,196,399 248 184

3 Cameron Place Apts. $892,567 240 180

4 Southwest Trails $679,909 160 120

5 Collingwood Village $557,941 146 109

6 Congress Ave. Apts. $565,901 128 96

7 Silverville Villas $546,310 120 90

8 Lakeline Apts. $492,473 112 84

9 Parkwood Apts. $412,397 104 62

10 King Fisher Creek $264,896 35 33

  • More of the Story

  • How Austin Fared

    Despite Austin's reputation as the most expensive rental market in Texas, the state Department of Housing and Community Affairs has approved only one low-income housing tax credit project for Austin this year.

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