Hunt Capital Partners provided $16.5 million in federal Low-Income Housing Tax Credit (LIHTC) equity for the development of Cady Lofts, a 100-unit affordable housing project in Austin. The new development is a permanent supportive housing (PSH) property comprising 100 studio homes intended to expand the supply of affordable housing for low-income households, the homeless or citizens who have a physical or developmental disability.
The Cady Lofts will house studio apartments for renters earning 30 to 60 percent of the area’s median income. Residents will have access to a communal computer lab, health and wellness center, case management offices and central laundry facilities.
The borrower is a partnership between developer SGI Ventures and the Housing Authority of the City of Austin. Three Bar Architects Inc. is designing the project, with Skybeck Construction serving as the primary contractor. Completion is slated for March 2025.