Austin-based DMA Development Company, the company that built the upscale Wildflower Terrace Apartments in the Mueller Development, is set to prove once again that affordable housing can be attractive. On Wednesday, March 23rd, DMA broke ground for Aldrich 51, a 240-unit “workforce” housing development also in Mueller. Construction is already underway on the $40 million complex, which was awarded $2 million in funding from the affordable housing general obligation bonds voters passed in 2013.
The four-story building will be located on the west side of Aldrich Street between Barbara Jordan Boulevard and 51st Street. Residents will enjoy quick access to retail and recreational activities as well as job opportunities and downtown.
The bulk of the units have reduced rent for people earning 60% and below Median Family Income. There will also be units that are targeted to 50% and 30% and below MFI. Construction is scheduled to be completed in June of 2017. In accordance with federal rules, DMA will not start taking applications until 90 days prior to opening. However, they will begin developing an “interest” list very soon. Look for more information on their website at www.dmacompanies.com starting April 1, 2016. Prospective residents can also call DMA Company at 512-328-3232, ext. 4599.
For more details on Aldrich 51, see the story published in the Austin American-Statesman.