A joint venture between Ryan and the Austin Affordable Housing Corporation (AAHC) will provide much needed workforce housing in Austin, TX, helping to close the rental gap in the area. Urban Oaks Apartments include 194 Class A units at 25-35% below market rate, plus a host of amenities such as a pool, community room, fitness center, BBQ grills and a fenced dog park. These townhome-style apartments are geared toward working individuals and families earning 60 percent of the Area Median Income (AMI).
Affordable housing developments are a multi-year commitment to a property and a community, providing the opportunity for continued involvement and engagement in the area. In this regard, Ryan functions more as an investor than a developer, taking a long term interest in the success of the overall project and the cultivation of key local relationships. They also mean that the project is subject to a high level of public scrutiny. Through the development of relationships with the municipality and neighbors, Ryan was able to gain approval for the housing development, as well as a secondary road to improve traffic flow. Our integrated construction process will facilitate the delivery of Urban Oaks within a quick 15-month period.