New northeast Austin affordable housing complex opens

Austin affordable housing complex opens

A new affordable housing complex officially opened in Northwest Austin Wednesday. After two and a half years of construction, local leaders cut the ribbon on The Loretta apartment complex.

AUSTIN, Texas - A new affordable housing complex officially opened in Northwest Austin on Wednesday.

After two and a half years of construction, city leaders cut the ribbon on The Loretta apartment complex.

"It is a testament to our commitment to create a more affordable Austin for all of its residents," said Austin City Council Member Mackenzie Kelly, who represents District 6.

"We really believe in creating affordable housing in all parts of town," said Foundation Communities executive director Walter Moreau. "I think there's a recognition that, if we just leave it to the market alone, we're going to price families at the very bottom out."

The new $34.5 million development was a collaboration between the City of Austin, Austin Housing Finance Corporation and Foundation Communities. It includes 137 units geared toward lower-income families.

Affordable housing development breaks ground

The City of Austin broke ground on a new affordable housing development in East Austin. It's called the Seabrook Square Multi-family Development.

"The Loretta is more than just an apartment. It's really about a foundation for families to have the services and support that they need to make it in town," said Moreau.

Fourteen apartments will be set aside for families who are homeless or at risk of becoming homeless.

"It was a very stressful situation, and the worst part is it was affecting my children," said Glenda Dennis, who moved in November. "My daughter was having trouble sleeping, and since we have been here she has not had any trouble sleeping. Her anxiety level has gone down."