You have reached your limit of free articles this month.

Enjoy unlimited access to

Starting at just 99¢ for 8 weeks.


  • ePAPER

You have read of premium articles.

Get unlimited access to all of our breaking news, in-depth coverage and bonus content- exclusively for subscribers. Starting at just 99¢ for 8 weeks


Welcome to

This subscriber-only site gives you exclusive access to breaking news, in-depth coverage, exclusive interactives and bonus content.

You can read free articles of your choice a month that are only available on

Nonprofit wins $4 million to fund more affordable housing

Foundation Communities, a nonprofit that builds affordable housing in Austin, announced this week that it was the recipient of a $4 million grant from the federal government to fund more affordable housing.

The grant came from the U.S. Treasury Department’s Community Financial Institutions Fund, which awarded more than $90 million in grants for preservation, rehabilitation, development and affordable housing in low-income communities. Foundation Communities was one of 32 grant winners in the country and the only winner from Texas. More than 120 applications were filed.

Walter Moreau, the executive director of Foundation Communities, said the grant will help fund some of the group’s existing projects as well as projects on the horizon.

“We’ve been in Austin for 26 years and our waiting list has never been longer. In some places it’s more than a year,” Moreau said. “Austin has become so expensive that even if you’re employed but your household income is only $30,000, finding housing is difficult. A lot of lower-income families are moving and people are being priced out.”

The group has three projects under construction: Bluebonnet Studios on South Lamar Boulevard, Live Oak Trails in Oak Hill and Lakeline Station, a 128-unit apartment studio in Northwest Austin. Moreau said the grant comes at an opportune time because having three ongoing projects has stretched the group’s resources.

Some of the money from the grant will go toward making up a funding gap on existing projects, but some will help buy land for projects in 2017 and 2018.

Construction for the Lakeline Station apartments should be completed by November and residents should be moved in by the end of the year, Moreau said. Most of the units in that project, an approximately $20 million complex near the Lakeline commuter rail station and a bus transfer center, will be priced in the $700 per month range and 13 units will be set aside for families that are struggling with or on the verge of homelessness.

People interested in applying to live at the Lakeline Station apartments can find more information at Lease applications should be available in the next few weeks, Moreau said.

Reader Comments ...

Next Up in Local

Rick Perry chimes in on A&M student election; social media reacts
Rick Perry chimes in on A&M student election; social media reacts

Rick Perry, the former governor of Texas and current U.S. energy secretary, questioned the legitimacy of Texas A&M’s student elections in an opinion piece published Wednesday in the Houston Chronicle. Perry wrote that his alma mater’s disqualification of former student body president candidate Robert McIntosh, who garnered the most votes...
Conservation nonprofit breaking new ground in education
Conservation nonprofit breaking new ground in education

R. Brent Lyles has been in environmental education his whole career, from the time he taught seventh-grade science in a poor, rural county in North Carolina to today as executive director of the Colorado River Alliance. The nonprofit is tasked with advocating for the Colorado River, the source of Austin’s water and an economic engine of Central...
Community news: First ‘CodeTalk’ on Wednesday about environment

TRAVIS COUNTY DOWNTOWN AUSTIN First ‘CodeTalk’ on environment The city of Austin will hold its first of five “CodeTalk” sessions from 5 to 7 p.m. Wednesday at Austin City Hall, 301 W. Second St. CodeTalks are topic-based information sessions open to the general public but tailored to those who have profound interests in specific...
Austin board to vote on land parcels, preview revised facilities plan
Austin board to vote on land parcels, preview revised facilities plan

The Austin school board on Monday night is expected to approve the purchase of three land parcels for the expansion of Bowie High School and a future high school in Southeast Austin. Trustees will consider two smaller tracts next to the overcapacity Bowie High School that would go toward a multimillion-dollar expansion and modernization of the school...
Mulling Trump, trains and Lone Star while waiting on MoPac to open

I’ve got questions … What, for instance, does the president really think about trains? Some transit supporters, perhaps creatively looking for silver linings, speculated shortly after Nov. 8 that Donald Trump, having spent his life surrounded by New York subways and commuter trains, might be into locomotion. Can you really picture the...
More Stories