Humbition & Diversitile
A at Lamppost Provides Accessible Affordable Housing to City of Austin Residents
Impact
- This was the first project built under Austin's "Affordability Unlocked" Ordinance
- The project offers 17 multi-bedroom, townhouse-style homes, empowering Austin families to pursue homeownership
- The average cost of a house at At at Lamppost is $275K where the city average is $600K
- The project broke ground in 2021 and sold out in 1 year with the last home closing in 2022
Project Overview
"A at Lamppost" is an affordable housing complex in Northwest Austin partially funded through the 2018 Affordable Housing Bond, “Affordability Unlocked.” The development has 17 multi-bedroom, family-friendly townhomes across 8 buildings on one acre of land, increasing the density of homes without compromising standard of living. It offers home ownership to families making 80% or less of Austin's median family income (MFI), with homes are available for about $275,000 compared to the city average $600,000.
Problem Overview
The city of Austin is quickly expanding, and it's struggling to meet the housing needs of its growing population. There were inventory issues not just with affordable housing but also with market-rate units which in turn has made it increasingly difficult for families, especially low income families, to purchase homes. In addition, the project was set to break ground in the midst of the COVID-19 pandemic with the potential to be delayed by supply chain issues. 'A at Lamppost' was developed to provide more units with less stringent income requirements for those in need of affordable housing, offering homes to those who make up to 80% of MFI.
Solution
Capital A Housing, known for providing affordable housing in the Austin community
and Constructinople, a general contractor offering design and build services,
partnered up to tackle the project. The permitting process can take a while, so the
team applied its experience, relationships and daily communication with city
officials to tackle development issues. In addition, the pandemic led to supply
chain slowdowns so the team strategized to also pull materials from out-of-state.
While these were more expensive, it was necessary to meet the deadline and ensure
that the project broke ground and served families on time. All the units were
environmentally friendly and highly efficient smart houses, resulting in reduced
monthly utility payments and a One-Star rating from Austin Energy Green Building
(AEGB). AEGB is an organization that rates the sustainability of new and remodeled
buildings to promote projects that contribute to Austin's environmental goals.
Results
The project became the first built under the city's 'Affordability Unlocked'
Ordinance, which waives or modifies development restrictions to increase the number
of low- and moderate-income housing units being developed. The ordinance and project
were both in response to the city's affordability crisis. It was also the first
affordable housing development by a private developer to offer ownership.
The
Capital A Housing and Constructinople teams provided buyers homeowner education and
loans to close on the units, recognizing that buying a home wasn't just limited to
the pricing, but also required education. The development launched in 2021 and
officially sold out in 2022.
