A new affordable housing property in Austin, The James on Grand Avenue, held its grand opening on January 11th, welcoming current residents and area leaders. The property, located at 15701 FM 1325, is an income-restricted development that received $2.4 million in tax credits as a recipient of the 2021 4% Housing Tax Credit program. Over the course of its 10-year term, The James on Grand Avenue is estimated to be worth approximately $24 million.
"If you are interested in making The James on Grand Avenue your home, please contact the management office at (737) 270-8159," said a spokesperson from The James on Grand Avenue.
The grand opening event was a significant milestone for the community, as it not only provided much-needed affordable housing options but also brought together residents and local leaders. The development aims to address the growing need for affordable housing in the area and improve the overall quality of life for its residents.
The Texas Department of Housing and Community Affairs (TDHCA) played a crucial role in the development of The James on Grand Avenue. The TDHCA is responsible for administering housing and community development programs across the state. They awarded the property $2.4 million in tax credits through the 4% Housing Tax Credit program, which incentivizes the construction of affordable housing.
"The James on Grand Avenue is a prime example of the positive impact that affordable housing can have on a community," said a representative from the TDHCA. "We are proud to have been able to support this project and provide more affordable housing options in Austin."
In addition to The James on Grand Avenue, the TDHCA also offers various resources to help individuals find affordable housing in their area. The agency's website, now located at Tdhca.Texas.gov, provides a Vacancy Clearinghouse where individuals can search for available properties throughout the state.
"If you would like to search for affordable housing in your area, please visit TDHCA’s Help for Texans at https://www.tdhca.texas.gov/help-for-texans," advised the TDHCA representative.
The grand opening of The James on Grand Avenue marks a significant step forward in addressing the affordable housing crisis in Austin. With its income-restricted units and support from the TDHCA, this development provides a much-needed solution for individuals and families struggling to find affordable housing options in the city.
