New affordable housing community opens in Northwest Austin

New affordable housing community opens in NW Austin

A new affordable housing community opened up in Northwest Austin.

AUSTIN, Texas - A new affordable housing community opened up in Northwest Austin. 

What we know:

A ribbon-cutting was held for Red Oaks Apartments, a 70-unit community with energy-efficient homes and family-focused amenities. The complex is in the Anderson Mills area on FM 620.

They are targeting households at or below 30, 50, and 60 percent money flow index. It is supported through federal tax credits, private financing, and City of Austin investment through the rental housing development assistance program.

The apartment complex has a mix of studio, one, two, and three-bedroom units. 

The $26 million development was made possible through a layered financing structure that reflects the city's commitment to expanding affordable housing options.