AUSTIN, Texas — On Wednesday, Foundation Communities celebrated another big step in its fight against the housing affordability crisis by hosting a ribbon-cutting ceremony for its latest affordable housing community.
Laurel Creek Apartments in North Austin is its latest effort, offering 88 "deeply affordable" units and a community center located at 11704 N. Lamar Blvd.
Members of Foundation Communities were joined by Mayor Steve Adler and other City leaders for the ceremony, along with a formerly homeless Laurel Creek resident who shared their remarks about the new community.
Residents of the community will have access to several services and amenities on-site, including a state-of-the-art Learning Center that provides free after-school and summer programming for kids living at Laurel Creek. They'll also have access to intensive case management, a healthy food pantry and other health, educational and financial wellness programs. Additionally, there will also be a high-quality preschool operated on-site by Open Door Preschool, which will provide subsidized child care to eligible residents.
Foundation Communities said it set aside 18 of Laurel Creek's units for formerly homeless families in its Children HOME initiative. It added that the community is now 100% leased and 92% occupied. Of the 71 occupied units, 29 are leased to residents who are formerly homeless and 38 are leased to families who have household members with disabilities.
“Laurel Creek Apartments will provide safe and affordable housing plus much-needed support services to help families thrive,” said David Bader, president of Bank of America Austin. “As new businesses and jobs continue to relocate to Austin, the need for affordable housing becomes even more critical. Bank of America has made it a priority to both support nonprofit partners working to mitigate housing insecurity as well as finance affordable housing.”
Foundation Communities said it plans to open Juniper Creek Apartments next door in late 2024, bringing an additional 135 affordable residences to the area.
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