Number of Affordable Rental Units Newly Constructed and/or Preserved Through Capital Investment
This measure captures the number of units created and/or retained through the Rental Housing Development Assistance (RHDA) program. This measure provides a snapshot of the total impact of these specific services provided by Neighborhood Housing and Community Development (NHCD) to the community.
This measure is calculated by summing the total number of units created and/or retained through the RHDA program.
FY 2015-16 Results
The goal for FY 2015-16 was to construct or preserve 180 affordable rental housing units through capital investment. In FY 2015-16, NHCD constructed or preserved 310 affordable rental housing units, exceeding the goal by 72.2%.
Assessment of Results
Capital investment exceeded its annual goal by creating and/or preserving 310 affordable rental units, 130 more than the goal. The map below shows the locations of developments that have been partially funded with 2013 General Obligation Bonds. This bond program has been instrumental in supporting the City’s achievement of its affordable housing goals. The program’s successful performance is attributed to projects funded in earlier years, which were reported as completed and occupied during FY 2015-16. During the year, this program provided assistance to developers to create rental housing for predominantly low-income working families, seniors, single parent families, individuals with special needs, and individuals transitioning from homelessness.
The City of Austin will continue to partner with non-profit and for-profit developers to provide affordable rental housing for low- and moderate-income households. The City remains committed to the creation of affordable rental opportunities particularly in areas where development pressures are severely impacting affordability, for the most vulnerable populations and in conjunction with other City initiatives.
For more information contact Rebecca Giello, Assistant Director, at 512-974-3045.