S.M.A.R.T.Housing^TM Developments for Special Needs and Elderly Open

Austin,Texas: Volunteers of America Texas (VOAT) and City officials gathered today for a double ceremony to celebrate the groundbreaking of Oak Spring Villas and the ribbon cutting of Manor House. Oak Springs Villas will offer rental housing for seniors age 62 and older and Manor House will serve low-income and disabled individuals and families. VOAT is a non-profit organization and subsidiary of Volunteers of America, and will oversee both S.M.A.R.T.Housing^TM developments.

Oak Springs Villas will offer 55 rental units for elderly families, age 62 and older with very low yearly incomes of no more than 50 percent of the Median Family Income (MFI) ($24,900 for a one-member family, and $28,450 for a two-member family). Monthly rents will be $280, comprised of no more than 30 percent of the tenant's monthly income in conjunction with a rent subsidy.

In addition to the 55 one-bedroom apartments, the facility will also include a two-bedroom manager's unit. Oak Springs is fully accessible to persons with disabilities and includes a community room, covered and open-space common areas for recreation and educational activities. On-site support services will be provided including social events, meals-on-wheels, healthcare classes, and access to transportation for medical needs.

The Manor House rental facility offers 11 rental units for individuals with disabilities and the capacity to live independently with minimal supervision. Manor House's units include one-bedroom, one-bath apartments, with fully equipped kitchens that are accessible to persons with mobility, hearing and vision disabilities.

Approximate rents are $260 per month for individuals earning at, or below, 50 percent of the MFI, or about $24,900 for a one-person household. To best serve its residents, Manor House will work closely with the Mental Health Mental Retardation of Austin/Travis County to provide case management to enable residents with disabilities to live independently within the community.

"Almost every family has someone who needs affordable housing, or has a family member with disabilities who needs affordable housing with supportive services," said Dave North, President and CEO of Volunteers of America Texas. "We hope the public continues to support these worthy housing and supportive service programs as they really are making a positive difference in the lives of Texans in need. We certainly appreciate all of the help we have received here in Austin to make these developments possible and we look forward to working with the community to continue to address the need," he said.

Funding for both Oak Springs Villas and Manor House was made possible in part by the Austin Housing Finance Corporation's (AHFC), Rental Housing Development Assistance Program (RHDA). The RHDA Program uses federal funds and City Housing Trust Fund dollars to provide gap-financing for housing developments.

Specifically, Oak Springs Villas received $466,715 in Housing Trust Fund dollars for development and construction of the project. Additional funding included a Section 202 U.S. Housing and Urban Development (HUD) grant for $3.2 million and a $500,000 loan from the Federal Home Loan Bank. The 3.33 acres of land for Oak Springs Villas is owned by the AHFC and is being leased to Oak Spring Villas Inc. thru a long-term lease agreement.

Manor House received $260,960 in City HOME funds for land acquisition and development of the property. Additionally, VOATX received a HUD direct grant of $727,300 for Manor House.

Oak Springs Villas is located at 3001 Oak Springs Drive and is scheduled for completion in the summer 2004. Manor House is located at 5907 Manor Road. For additional information on either project, please call VOATX at (817) 529-7311.

The Neighborhood Housing and Community Development Office's mission is to provide housing, community development, and small business development services to benefit residents so they can have access to livable neighborhoods and increase their opportunities for self-sufficiency.

The Austin Housing Finance Corporation was created in 1979 and assists Austin citizens with first-time homebuyer and home repair programs. The AHFC's primary mission is to generate and implement strategic housing finance solutions to benefit low-and moderate-income residents of the City of Austin.

The City of Austin is committed to compliance with the Americans with Disabilities Act (ADA) and Section 504 of the Rehabilitation Act of 1973, as amended. Reasonable modifications and equal access to communications will be provided upon request. Please call 974-3100 (voice) or 974-3102 (TDD) for assistance. This project is made possible by funding from HUD through the City of Austin.

CONTACT: Julie Beggs, (512) 974-3121 (voice) or (512) 802-7108 (pager)