Development Committee, Allandale Hotel development plan, February 9

Development Committee, Allandale Hotel development plan, February 9

Date: Wednesday, February 9
Time: 7:00 – 8:30 pm
Location: Norris Conference Centers, Magnolia Room, 2525 W. Anderson Ln. (map)

The Development Committee of North Shoal Creek Neighborhood Association is holding a meeting to discuss the Allandale Hotel “adaptive reuse” development plan. We will meet with Sarah Andre, S2A Development Consulting on behalf of Allandale Northcross LP. She will explain to us the details of their application for the Housing Tax Credit Program with the Texas Department of Housing and Community Affairs. We will be able to ask questions and give her our feedback.

North Shoal Creek neighbors, as well as residents in nearby North Austin neighborhoods, are welcome to attend.

Background information, from a letter sent by S2A Development, is below.

Allandale Northcross LP is making an application for the Housing Tax Credit Program with the Texas Department of Housing and Community Affairs for The Allandale at Northcross, located at 7685 Northcross Drive, Austin, TX 78757, in Travis County.

This “adaptive reuse” development is an apartment community comprised of approximately 244 units, of which 25 units (10%) will be for tenants with approximate incomes less than 30% of the area’s median family income (AMFI), 75 units (30%) will be for 50% AMFI, and 144 units (60%) will be for 60% AMFI.

The approximate income levels by family size for each income level are below:

Family Size 30% AMFI 5O% AMFI 60% AMFI
1 person $l5,510 $25,850 $31,020
2 person $17,730 $29,550 $35,460
3 person $19,950 $33,250 $39,900
4 person $22,140 $36,900 $44,280

The total restricted income percentage of the Development is 100 percent. The Development will serve general households as a single room occupancy building. The number of units and proposed rents (less utility allowances) for the subject property’s tax credit units are as follows:

244 Efficiency Units for $323 – $739

There will be a public hearing to receive public comment on the proposed development. Information regarding the date, time, and location of that hearing will be disseminated at least 30 days prior to the hearing date.

If awarded, this development would be ready for occupancy by approximately November 2013.

For information on the Housing Programs, see www.tdhca.state.tx.us.

Sincerely,
Sarah Andre
S2A Development Consulting on behalf of Allandale Northcross LP

Comments are closed.