NRP Heading Up 348-Unit Austin Affordable Housing
The NRP Group, alongside the Housing Authority of Travis County, broke ground on a new 348-unit affordable housing community in Southeast Austin. Called Sanara, all units are reserved for households earning up to 60 percent of the Area Median Income (AMI).
The development is supported by tax credit equity from MetLife Investment Management, with the tax credits syndicated by Redstone Equity Partners. Construction and permanent financing is being provided by PIMCO and arranged by Berkadia. Safehold is also participating as a ground lessor.
Located at 4401 E. Slaughter Lane, residents will have access to a 24-hour fitness center, a business center with coworking space, an outdoor pool with lounge seating, a children’s activity center, and an on-site playground. The project will also offer on-site resident programs, including after-school care, financial literacy courses, ESL classes, first-time homebuyer programs and more.
Construction of Sanara is now underway with first units anticipated in April 2027.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout