Foundation Communities’ newest permanent supportive housing community is home to 110 residents in Austin, Texas.
Zilker Studios features studio apartments for low- to extremely low-income individuals, many of whom were previously homeless.
“What sets Foundation Communities apart is our ability to bring together the best partners to create beautiful, sustainable, and affordable housing with on-site services that empower residents to achieve stability and good health,” said Foundation Communities CEO Walter Moreau. “We’re incredibly grateful that the land for Zilker Studios was generously donated by C12, allowing us to build so close to downtown where residents can fully participate in the Austin community.”
The community builds on the Austin-based nonprofit’s housing-plus-services model, proven effective for single adults with high needs, low incomes, and histories of housing instability, said officials, who recently announced that the development was fully occupied.
Designed as a seven-story building, Zilker Studios has parking and amenities on the first two floors, including a 24-hour front desk, a fitness room, laundry facilities, a covered patio, and offices for property management and resident services staff. The upper five floors contain fully furnished studio apartments, each with a private bathroom and a kitchenette. Two murals were painted inside through a resident arts collaboration with Austin-based nonprofit Creative Action.
The approximately $26.2 million development was financed with 9% low-income housing tax credits and tax credit equity from Bank of America, the National Housing Trust Fund through the Texas Department of Housing and Community Affairs, and funding from the Federal Home Loan Banks of Dallas and New York. It was also funded through grants from the Michael & Susan Dell Foundation, St. David’s Foundation, the Topfer Family Foundation, Capital Magnet Fund, and other local donors.
