Austin Housing Finance Corporation, May 7, 2026
Approves Private Activity Bond Financing for Elm Ridge Apartments Rehabilitation, Unanimous (with board member Fuentes absent)
What happened
The Austin Housing Finance Corporation board approved an inducement resolution allocating up to $33 million in private activity bonds to Elm Ridge Preservation LP for rehabilitation of Elm Ridge Apartments at 1190 Airport Blvd, a 100% project-based Section 8 property.
- Jurisdiction
- Austin, TX
- Governing body
- Final authority
- Date
- May 7, 2026
- Decisions
- 1 zoning decision
- Outcome
- Approved, Unanimous (with board member Fuentes absent)
Free sample: decision 1 of 1
Private Activity Bond Financing for Elm Ridge Apartments Rehabilitation
Approved inducement resolution authorizing allocation of up to $33 million in private activity volume cap multifamily non-recourse bonds to Elm Ridge Preservation LP for rehabilitation of Elm Ridge Apartments at 1190 Airport Blvd in Council District 1. Investment will total over $85,000 per door.
Meeting Summary
The Austin Housing Finance Corporation board approved an inducement resolution allocating up to $33 million in private activity bonds to Elm Ridge Preservation LP for rehabilitation of Elm Ridge Apartments at 1190 Airport Blvd, a 100% project-based Section 8 property.
Key Decisions (1)
Private Activity Bond Financing for Elm Ridge Apartments Rehabilitation
Development Activity (1)
Elm Ridge Apartments Rehabilitation
Residential
Market Signals (2)
Housing Demand
Significant investment ($85,000+ per door) being directed toward preserving and…
Sentiment
City prioritizing preservation of deeply affordable housing (50% AMI) through…
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