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Affordable housing community opening in North Austin

The community will also target formerly homeless veterans, seniors, and individuals with disabilities.

AUSTIN, Texas — A new affordable housing community is coming to North Austin.

Foundation Communities announced Wednesday a community called Waterloo Terrace, located at 12190 N. MoPac Expressway. The community will have 132 efficiency studios with rents ranging from $475 to $855 including utilities. Each studio will have a full kitchen, bathroom, living space and sleeping space. 

Foundation Communities' 25th affordable housing community will target low-income Austin residents, including formerly homeless veterans, seniors and people with disabilities. In fact, 42 units are reserved for homeless and low-income vets. Foundation Communities said they received more than 1,000 applications. 

RELATED: Austin's homeless strategy officer reveals blueprint for addressing homeless camps

Residents at the community will have services available to them, including a food pantry through Central Texas Food Bank and Keep Austin Fed, computer classes, a fitness room, health and vision screenings and educational programs.

Austin leaders are holding a ribbon-cutting ceremony for the community Wednesday.

This comes as the City of Austin unveiled a blueprint to address homelessness and camps in the city. Phase one of the initiative is expected to be complete by late summer.

WATCH: Elon Musk says there is an 'urgent need' for Austin housing

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