{"id":1004099564,"date":"2014-06-29T18:36:52","date_gmt":"2014-06-30T02:36:52","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=272524"},"modified":"2022-12-09T00:11:37","modified_gmt":"2022-12-09T08:11:37","slug":"capital-studios-the-first-affordable-housing-community-in-downtown-austin-set-to-open-in-october","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/capital-studios-the-first-affordable-housing-community-in-downtown-austin-set-to-open-in-october\/","title":{"rendered":"Capital Studios, the First Affordable-Housing Community in Downtown Austin, Set to Open in October"},"content":{"rendered":"<p style=\"text-align: justify\"><em>By Anca Gagiuc, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify\">The Downtown Austin Plan is moving forward. The city\u2019s blueprint that shows the need for more affordable housing and permanent supportive housing is meeting its materialization. The first affordable-housing project in 45 years is currently in the works.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-272525\" title=\"130401-CapitalStudios-Composite\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/06\/130401-CapitalStudios-Composite.jpg\" alt=\"\" width=\"300\" height=\"174\" \/><\/p>\n<p style=\"text-align: justify\">Capital Studios is the new community that will serve low-income and homeless residents in the Austin area, designed to meet LEED Platinum standards. Works are scheduled to be completed this fall for residents to move in in October.<\/p>\n<p style=\"text-align: justify\">The developer and managing company is Foundation Communities and they work with various public-private partners including UnitedHealthcare \u2013 the largest investor that provided $11.7 million through the use of Low Income Housing Tax Credit (LIHTC) equity in a partnership with Enterprise Community Investment, the Texas Department of Housing and Community Affairs that allocated the tax credits, the Austin Housing Finance Corporation who provided $4.7 million in permanent financing. The Federal Home Loan Bank secured an additional $1 million in a permanent financing, the Bank of America granted a $500,000 construction loan, and other sources and private donations raised another $2.7 million.<\/p>\n<p style=\"text-align: justify\">Capital Studios will be located at 11<sup>th<\/sup> and Trinity Streets and will offer 135 efficiency apartments for single adults and 25 percent of them will be reserved for homeless individuals. The property will have 24-hour monitored access; residents will have a private community space with a computer lab, TV lounge and fitness area. Just a block of the Texas State Capital, it has street level retail space and a publicly accessible bike-share kiosk. Rents will range between $400 and $650 per month with utilities included.<\/p>\n<p style=\"text-align: justify\">\u201cExpanding access to affordable housing is important in breaking the cycle of homelessness and poverty and helping people live healthier lives,\u201d says Donald Langer, president of UnitedHealthcare Community &amp; State of Texas. \u201cCapital Studios will be a tremendous boost to downtown Austin, providing affordable housing and services to help people in need.\u201d<\/p>\n<p style=\"text-align: justify\"><em>Photo courtesy of <a href=\"https:\/\/austintexas.gov\/\">City of Austin, Texas<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Downtown Austin Plan is moving forward. The city&rsquo;s blueprint that shows the need for more affordable housing and permanent supportive housing is meeting its materialization. The first affordable-housing project in 45 years is currently in the works.<\/p>\n","protected":false},"author":237,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1578,21742],"tags":[39411,1815],"class_list":["post-1004099564","post","type-post","status-publish","format-standard","hentry","category-austin","category-latest","tag-austin","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Capital Studios, the First Affordable-Housing Community in Downtown Austin, Set to Open in October - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/capital-studios-the-first-affordable-housing-community-in-downtown-austin-set-to-open-in-october\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Capital Studios, the First Affordable-Housing Community in Downtown Austin, Set to Open in October\" \/>\n<meta property=\"og:description\" content=\"The Downtown Austin Plan is moving forward. The city&rsquo;s blueprint that shows the need for more affordable housing and permanent supportive housing is meeting its materialization. The first affordable-housing project in 45 years is currently in the works.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/capital-studios-the-first-affordable-housing-community-in-downtown-austin-set-to-open-in-october\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-06-30T02:36:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T08:11:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/06\/130401-CapitalStudios-Composite.jpg\" \/>\n<meta name=\"author\" content=\"Anca Gagiuc\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/capital-studios-the-first-affordable-housing-community-in-downtown-austin-set-to-open-in-october\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/capital-studios-the-first-affordable-housing-community-in-downtown-austin-set-to-open-in-october\\\/\"},\"author\":{\"name\":\"Anca Gagiuc\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\"},\"headline\":\"Capital Studios, the First Affordable-Housing Community in Downtown Austin, Set to Open in October\",\"datePublished\":\"2014-06-30T02:36:52+00:00\",\"dateModified\":\"2022-12-09T08:11:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/capital-studios-the-first-affordable-housing-community-in-downtown-austin-set-to-open-in-october\\\/\"},\"wordCount\":330,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/capital-studios-the-first-affordable-housing-community-in-downtown-austin-set-to-open-in-october\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/06\\\/130401-CapitalStudios-Composite.jpg\",\"keywords\":[\"Austin\",\"National\"],\"articleSection\":[\"Austin\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/capital-studios-the-first-affordable-housing-community-in-downtown-austin-set-to-open-in-october\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/capital-studios-the-first-affordable-housing-community-in-downtown-austin-set-to-open-in-october\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/capital-studios-the-first-affordable-housing-community-in-downtown-austin-set-to-open-in-october\\\/\",\"name\":\"Capital Studios, the First Affordable-Housing Community in Downtown Austin, Set to Open in October - 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