I read an article today in the Austin American Statesman newspaper about an apartment complex that looks like it will be built in downtown Austin, TX. The building will be the first of its kind, a low income housing development in the heart of Austin Texas. To date the properties in downtown Austin have been very expensive with sales price starting in the 130’s for 400 sq ft. and several million dollars for pent house suites in buildings like the W and Four Seasons residences. On the drawing board is an apartment complex with rents between $400 and $650 a month! Don’t get too excited though, you have to make less than $27,000 a year to qualify, about half of the average income for a resident in Austin.
If you would like to read the article, use this link: http://www.statesman.com/story-2424472.html