Accessibility Statement Skip Navigation
  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing
  • Login
  • GDPR
  • Create a Free Account
Return to PRWeb homepage
  • News
  • Resources
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
  • Business & Money
      • Auto & Transportation

      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Hamburger menu
  • Cision PRWeb provides efficient communication tools to continuously engage with target audiences across multiple online channels
  • Create a Free Account
    • ALL CONTACT INFO
    • Contact Us


      11AM ET Sunday – 8PM ET Friday

  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR

City Council Votes to Approve the Negotiations of 1215 Red River St. and 606 East 12th St. Development


News provided by

NHPF

Oct 04, 2022, 09:30 ET

Share this article

Share toX

Share this article

Share toX

rendering courtesy of STG Design
rendering courtesy of STG Design

The project is a partnership between Capital A Housing, The NHP Foundation (NHPF) and Aspen Heights Partners in an effort to bring affordable housing to Austin residents

NEW YORK, Oct. 4, 2022 /PRNewswire-PRWeb/ -- The Austin City Council today approved full negotiations on a proposal to redevelop the city-owned HealthSouth tract just east of the Texas State Capitol streets, a big step forward in a project that will bring 232 units of affordable housing and other community benefits to Downtown Austin. Capital A Housing and NHPF are partnering with Aspen Heights to build the multi-tower, mixed-income complex next to Waterloo Park and near a future Project Connect light rail line.

"We are thrilled to join this project to help deliver an unprecedented level of affordable housing - it will double the number of income-restricted units in downtown Austin," stated Fayez Kazi, CEO of Capital A Housing. The mixed-use residential development will take up almost the entire block bounded by 12th St., Red River, a new 13th St., and Sabine St., including all of the old HealthSouth hospital site. It will have two towers built atop a 6-story podium with a 30,000 square foot public plaza with green space, water features, an 18,000 square foot local restaurant food-hall/business-incubator, and views of the Capitol, Waterloo Greenway, and downtown. There is also an on-site music venue with below-market rate rents. "The HealthSouth development is another tool we are using to increase our affordable housing supply. Through this project, we add over 200 more affordable housing units downtown -- doubling the number that currently exist. We need more, but this is an important step," declared Mayor Steve Adler. The residential towers will total 921 units, of which more than 25% will be affordable housing for low-income Austin families. Half of the affordable units are multi-bedroom, family-oriented units (90 2-bedroom apartments and 23 3-bedroom apartments). The project also hosts an on-site childcare center provided at affordable tuition.

NHPF is excited to partner with Aspen Heights and Capital A Housing to bring hundreds of high quality affordable homes to Downtown Austin. We would like to thank City Council and especially Council Member Harper-Madison and Mayor Adler for their leadership,” said Neal Drobenare, Sr VP, NHPF.

Post this

The 232 affordable units will comprise approximately 18 of the south tower's 27 floors, and will be developed, owned, and operated by NHP and Capital A.

"NHPF is excited to begin the work of partnering with Aspen Heights and Capital A Housing to bring hundreds of high quality affordable homes to Downtown Austin. We would like to thank City Council and especially Council Member Harper-Madison and Mayor Adler for their leadership in making Downtown a place that Austinites of all incomes can call home," said Neal Drobenare, Senior Vice President of Acquisitions for NHPF.

The project also provides some redress for a historic injustice. In the 1960s, the City of Austin moved forward on a so-called "urban renewal" program for this part of Downtown that displaced 475 households, including 218 families, to make way for the Brackenridge Hospital, the Frank Erwin Center, Waterloo Park, and multiple parking garages. This one project will reconcile that misguided decision by creating more than 900 new homes, with more units reserved for working-class Austinites (232) than were removed from the area (218) under Urban Renewal.

"It's important to remember this history of this area how, decades ago, the City of Austin liquidated a largely working-class community here in the name of urban renewal," said Council Member Natasha Harper-Madison. "The urgent need to reconcile those bad decisions is what drove me to push my colleagues to give our city staff more time to kick the tires on this proposal and ensure we ended up with this excellent outcome of close to a thousand new mixed-income homes with next-door access to parks, transit, affordable childcare, and a whole raft of other outstanding community benefits."

City Council approved negotiations for the Master Development Agreement (MDA) to proceed to finalize the terms between the City and partners governing the development, construction, and lease of a mixed-use residential development and associated infrastructure on the City-owned sites. City staff will return to Council when the MDA is finished for final approval of the 99-year lease and development agreement to move forward. However, staffers expect to execute the development agreement by spring of 2023 so as not to postpone the project's proposed delivery in summer of 2027.

For more information on 1215 Red River St. and 606 East 12th St. Development, please visit https://www.austintexas.gov/department/1215-red-river-606-east-12th.

###

About The NHP Foundation
The NHP Foundation (NHPF) was launched on January 30, 1989, as a publicly supported 501(c)(3) not-for-profit real estate corporation. NHPF is dedicated to preserving and creating sustainable, service-enriched multifamily housing, and single-family homes that are both affordable to low and moderate income families and seniors, and beneficial to their communities. NHPF's Construction Management Group provides in-house resources dedicated to infrastructure review, infrastructure development and costs management. Through Family-Centered Coaching, NHPF's subsidiary Operation Pathways engages with, and assists, families experiencing poverty and other hardship, to problem-solve together. Through partnerships with major financial institutions, the public sector, faith-based initiatives, and other not-for-profit organizations, NHPF has 61 properties, including over 10,000 units, in 16 states and the District of Columbia. For more information, please visit nhpfoundation.org.

About Capital A Housing
Capital A Housing is an Austin-based and focused development company of affordable and mixed-income projects. It specializes in projects that range from a quarter acre to 50 acres and are responsive to neighborhood, city and elected official concerns, delivering outstanding amenities, affordability and services. Through its methodology, Capital A Housing accomplishes rezonings or other permissions that would typically be infeasible for more standard developments. For more information, please visit capitalahousing.com.

About Aspen Heights Partners
Aspen Heights Partners is a fully integrated real estate development company focused on creating spaces where people live, connect and learn. For more information, please visit
https://www.ahpliving.com/.

Media Contact

Marijane Funess, NHPF, 914.830.3754, [email protected]

SOURCE NHPF

Modal title

Contact PRWeb

  • 11AM ET Sunday – 8PM ET Friday
  • Contact Us

About PRWeb

  • About PRWeb
  • Partners
  • Partnership Programs
  • Editorial Guidelines
  • Resources

Why PRWeb

  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing

Accounts

  • Create a Free Account
  • Log in
  • Contact Us

Do not sell or share my personal information:

  • Submit via [email protected] 
  • Call Privacy toll-free: 877-297-8921

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Legal
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 Cision US Inc.