NRP Debuts Austin Affordable Community

The NRP Group, in partnership with the Housing Authority of the City of Austin, has opened Bridge at Estancia, a 318-unit fully affordable community in Austin, Texas.

Hudson Housing Capital provided a $20 million housing tax credit investment for the development, while Bellwether Enterprises and Deutsche Bank supplied construction and permanent financing. In December 2021, the Austin Affordable Public Facility Corp. issued $57.9 million in Multifamily Housing Revenue Bonds with BOKF Bank serving as the trustee.

A piece of a larger puzzle

The newly completed community is part of the 600-acre mixed-use Estancia Hill Country master plan, which could potentially include retail, office and other residential developments.

Designed by HEDK Architects, Bridge at Estancia comprises two four-story buildings across 15 acres. The units have one- to four-bedroom layouts with sizes ranging from 662 to 1,256 square feet. Amenities include a fitness center, business center, playground, outdoor swimming pool with a sundeck, barbecue grills and a two-level parking garage.

Additionally, Bridge at Estancia has an activity room designated for hosting events, such as health screenings, after-school programming, financial literacy training, a first-time homebuyer program and courses. These events are organized in partnership with the nonprofit Community Housing Resources Partners.

The property is at 1100 Avenida Mercado St., just off the intersection of Interstate 35 and State Highway 45. The eateries and retail options in the area are within 4 miles, along these two thoroughfares. Downtown Austin is some 12 miles north. Austin-Bergstrom International Airport is less than 20 miles away.

The NRP Group and HACA have worked together on multiple projects across Austin, developing more than 2,300 units. Earlier this year, the partners opened The Markson, another affordable community in the city, 16 miles from Bridge at Estancia.