There’s a new affordable housing option in Northeast Austin.
The Terrace at Walnut Creek, at 8712 Old Manor Road, features 324 apartments, with a mix of one-, two-, three- and four-bedroom units reserved for tenants making either 40 percent or 60 percent of the area’s median income.
Developers of the $50 million project are the Travis County Housing Finance Corp. and NRP Group, an Ohio firm.
“The Terrace at Walnut Creek is the perfect example of a public/private partnership that grows the economy and serves the community,” Travis County Precinct 1 Commissioner Jeff Travillion said in a written statement. “By working together, quality affordable housing has been made available to a community that was feeling the pressures of a rapidly growing region.”
The 27-acre apartment community features a number of amenities, including a community room, swimming pool and fitness center.
“With the growing demand in Austin for innovative and essential employee housing, the Terrace at Walnut Creek complements the vision that Travis County has for the community,” said Dan Markson, NRP Group’s executive vice president of development. “We look forward to partnering again to develop quality homes for this booming area.”