Seabrook Square
Affordable Housing Coming Soon to Austin, TX
Financing for Seabrook Square closed in late-August 2023. The development will feature 204 units (from studios to 4-bedrooms) of affordable housing in the rapidly growing city of Austin, Texas. Seabrook Square will be comprised of five stories of wood-framed construction over concrete slabs and a separate pre-formed concrete structured garage. Following a two-year construction schedule, future residents of Seabrook Square will have access to a separate parking structure, on-site laundry facilities and community center, on-site property management office, and a public plaza.
Total Development Cost
| $74,739,059 |
Financing
| $21,632,479 | Citi Permanent Loan |
| $32,605,759 | 4% LIHTC Equity |
| $13,516,414 | RHDA Subsidy Loan |
| $729,886 | Accrued Interest |
| $780,300 | 45L Energy Tax Credit Equity |
| $5,474,221 | Deferred Developer Fee |