AUSTIN, Texas — Along South Lamar Boulevard, just outside of Downtown Austin, sits Zilker Studios, a new complex that will be opening its doors on May 22.
The nonprofit Foundation Communities helped build the complex.
"We are so happy for Zilker Studios. We are going to welcome home 110 residents – our first residents are lined up to move in Monday – and hand over the keys and welcome them home," said Walter Moreau, executive director of Zilker Studios.
Moreau said the goal of the complex is to bring more affordable housing to the Austin area.
Moreau said many people moving in make around $1,000 or less per month. Residents will pay about half of that for rent.
Moreau said there was high demand to get a spot to move into the complex, with 3,000 people signing up for a lottery system to be selected.
"We want to create a community where people are really proud of where they live. We provide supper clubs and food pantries and services on site, and it really does work for individuals who have been homeless or [who are] working part time or have a disability," Moreau said.
The project was made possible with voter-approved city housing bonds and private funding.
"Building communities that thrive is central to who we are at Bank of America. Every day our teammates see the impact of homelessness in our city, and through vital and longtime partners like Foundation Communities, we are inspired to be part of the solution by providing critical financing,” said David Bader, Bank of America Austin president. “Zilker Studios is a direct reflection of the hard work of so many to give some of our most vulnerable residents a place to call home.”
Moreau said Foundation Communities has 25 properties around Austin aimed at bringing more affordable housing, and it hopes to bring even more in the future.
“We do need more supportive housing," Moreau said. "I think if we are going to get people off the streets and get back on their feet, it takes a small apartment and supportive services."
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