The NHP Foundation’s first development in the capital of the Lone Star State is Seabrook Square. This new construction project is currently under construction in the heart of Austin. It will provide 204 much-needed units of affordable housing, ranging from studios to 4-bedrooms. Seabrook Square will be spread across two separate buildings and on-site parking will be provided in a structured garage with 237 parking spaces. The buildings will have laundry facilities and a property management office on-site. This project is slated to finish construction in 2026.
Unit (Bd/Ba) | Ft2 | Rent |
---|---|---|
Studio (Studio/1) | - | Call for Price |
One Bedroom (1/1) | - | Call for Price |
Two Bedroom (2/1) | - | Call for Price |
Three Bedroom (3/1) | - | Call for Price |
Four Bedroom (4/1) | - | Call for Price |
This property is currently under construction.
Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in the Low-Income Housing Tax Credit program in Austin but actual income limits may differ for units at Seabrook Square.
AMI Band | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person |
---|---|---|---|---|---|---|---|---|
Very Low Income (50%) | $40,900 | $46,750 | $52,600 | $58,400 | $63,100 | $67,750 | $72,450 | $77,100 |
Low Income (60%) | $49,080 | $56,100 | $63,120 | $70,080 | $75,720 | $81,300 | $86,940 | $92,520 |
Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.