The 318-unit, highly amenitized development brings affordable housing to the 600-acre master-planned community in Estancia Hill Country

The NRP Group, a vertically integrated, best-in-class developer, builder, and manager of multifamily housing, in partnership with the Housing Authority of the City of Austin (HACA), today announced the opening of Bridge at Estancia, a 318-unit affordable housing community in Austin, Texas. The development provides quality, amenity-rich housing for residents earning up to 60 percent of the Area Median Income (AMI).

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241031706614/en/

Credit: The NRP Group

“Bridge at Estancia is a pivotal project in our ongoing effort to provide affordable housing to Austin’s residents,” said Nick Walsh, Vice President of Development at The NRP Group. “As Austin’s growing jobs market and vibrant culture continue to drive demand for housing, we’re excited to partner with the Housing Authority of the City of Austin to contribute to this master-planned community. This development not only addresses the growing need for affordable housing in Travis County, but it also supports the local economy through further job creation and access to essential services.”

Located at 1100 Avenida Mercado Street, near the intersection of Interstate 35 and State Highway 45, Bridge at Estancia offers easy access to downtown Austin and is part of the Estancia Hill Country master plan, a 600-acre mixed-use development. The community sits adjacent to the planned Texas Children’s Hospital, as well as future commercial and retail spaces, and additional housing developments.

“This development is a major milestone in ensuring Austin remains an inclusive city where everyone has access to affordable housing,” said Michael Gerber, President and CEO of HACA. “The location offers easy access to downtown Austin, and it’s part of a master-planned community that will serve as a foundation for families to thrive. Developments like this are critical to keeping Austin affordable for those who live and work here.”

Designed by HEDK Architects, Bridge at Estancia features a mix of one- to four-bedroom units, catering to both individuals and growing families. Apartments include private patios or balconies, high ceilings, vinyl plank flooring, and fully equipped kitchens with quartz countertops and recessed lighting.

In partnership with the nonprofit Community Housing Resource Partners, Bridge at Estancia has a dedicated activity room to host resident services such as health screenings, after-school programming, financial literacy training, a first-time homebuyer program, English as a Second Languages courses and more. Best-in-class amenities include a swimming pool, fitness center, multiple playgrounds, and walking trails integrated into the wider Estancia Hill Country trail network.

The 15-acre site features two four-story buildings, two three-story walk-ups, and a two-level parking garage. Residents will enjoy outdoor spaces such as an open courtyard, barbecue grills, and an outdoor pool with a sundeck. Additionally, a large coworking space filled with natural light offers computers, desks, and comfortable reading nooks ideal for remote workers and students.

This fully affordable housing community was made possible by a $20 million housing tax credit investment from Hudson Housing Capital, along with construction and permanent financing provided by Bellwether Enterprises and Deutsche Bank.

The NRP Group was recently ranked among the top three multifamily developers by the Austin Business Journal, with more than 7,500 apartment homes across 25 developments in the Austin area. Earlier this year, NRP delivered The Markson, a 330-unit mixed-income community, with several hundred more units currently in development.

The Bridge at Estancia is currently accepting applications for qualified residents. Rents range from $1,199 - 2,037. Please visit https://www.bridgeestancia.com/ for more information and to begin an application.

About The NRP Group

The NRP Group is a vertically integrated developer, owner, builder, and manager of best-in-class multifamily housing with a mission to create exceptional rental housing communities for individuals and families, regardless of income. Since its founding in 1994, NRP has developed more than 50,000 apartment homes and currently manages over 25,000 residential units.

Through its disciplined approach to vetting opportunities, NRP has established a track record of delivering impressive returns for investors. The company’s formidable size and depth of talent provide the experience and infrastructure necessary to execute developments of varying degrees of complexity and scope in both urban-infill and suburban locations, including market-rate, affordable, mixed-income, and senior housing.

The NRP Group is consistently ranked in the Top 10 largest developers and builders in the U.S. by the National Multifamily Housing Council and by Affordable Housing Finance. The NRP Group is a winner of the National Association of Home Builders Multifamily Pillars of the Industry award for “Builder of the Year,” and a four-time recipient of the same award for “Development Firm of the Year.” The NRP Group has become the top multifamily developer in the U.S. that creates both affordable and market-rate housing at a national scale. Based on its nearly 30 years of experience and expertise, NRP now provides construction and property management services to outside owners and developers. For additional information, visit www.nrpgroup.com.

About The Housing Authority of The City of Austin

Established in 1937, the Housing Authority of the City of Austin works to cultivate sustainable, affordable housing communities that inspire self-reliance, growth, and optimism for those we serve: families, seniors, persons with disabilities, and persons experiencing homelessness. HACA envisions neighborhoods where poverty is alleviated, residents are healthy and safe, and all people have the opportunity to achieve their full potential. The agency serves nearly 37,000 Austinites through 21 Project-Based Rental Assistance Properties, Voucher Programs, and the Austin Affordable Housing Corporation.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241031706614/en/