The Markson, a 330-unit mixed-income housing development, celebrated its grand opening in Austin, Texas.
Developed by The NRP Group in partnership with the Housing Authority of the City of Austin (HACA), the community honors the late Dan Markson, an affordable housing developer and executive with The NRP Group.
“Thanks to our continued collaboration with HACA, The Markson stands as a testament to Dan’s vision and dedication to delivering housing options for essential workers throughout Texas,” said Debra Guerrero, senior vice president of strategic partnerships and government affairs at The NRP Group. “Today, we honor his legacy as well as HACA’s vision to provide housing affordability for Austin families.”
More than half of the units at The Markson are reserved for residents earning no more than 80% of the area median income.
It is one of the eight developments created in partnership with HACA, comprising over 2,300 units throughout the city.
"As a part of our collective vision to provide stable, affordable housing options to essential workers, The Markson reflects our unwavering commitment to addressing the affordable housing shortage in Austin,” said Michael Gerber, HACA president and CEO. “Dan Markson's legacy is embodied in The Markson, and this development will help ensure the integral presence of our community members in Austin's diverse fabric.”
Funding partners in the $60 million development include Amegy Bank and J.P. Morgan Asset Management.
Located in Austin’s Barton Springs community, the development offers affordable rents for people who provide critical services, including teachers and first responders, close to their places of work. To assist local schoolteachers in finding affordable housing, The NRP Group said it is extending one month of free rent to employees of nearby St. Andrew's Episcopal School. The community's location offers easy access to downtown Austin and nearby employment centers, like Yeti and NXP, catering to essential workers and local employees alike.
Residents will also have access to a pet spa, bike storage, conference rooms, a co-working lounge space, a coffee bar, a fitness center, a game room, and a package concierge. The community features a central parking garage with electric vehicle charging stations.
The Markson comprises one- to three-bedroom units with monthly rents ranging from $1,487 to $3,182. Residences are available in two different in-unit finishes—toffee flat panel or cream shaker style—and offer stainless steel appliances, pure white quartz countertops, luxury vinyl plank flooring, and keyless entry. Some units feature outdoor balconies.
