S.M.A.R.T. Housing Development is Open for Business

Austin,Texas: Today, Tramco Development, Inc. introduces new homeowners to its latest development, Meadowlake Subdivision. The 35-acre development is located just East of I.H. 35 on William Cannon Drive and offers 230 new, manufactured homes within the City of Austin. The Meadowlake Subdivision will meet the City of Austin's S.M.A.R.T. (Safe, Mixed-Income, Accessible, Reasonably Priced, and Transit-Oriented) Housing criteria.

S.M.A.R.T. Housing is a service designed to stimulate the creation of reasonably priced homes in Austin. It offers developers incentives by way of a single point of contact to advocate through the city development process and fee waivers for developing affordable housing units. S.M.A.R.T. Housing provides builders who reserve a minimum of 10 percent of their housing units for families earning 80 percent or below the median family income ($54,400 for a family of four), fee waivers of up to $2,000 per lot and faster development reviews.

"We have proven that when the City of Austin provides advocacy and certainty through our S.M.A.R.T. Housing Program, developers will respond," said Paul Hilgers, Community Development Officer. "It [S.M.A.R.T. Housing] works to mitigate the risk developers face," he said.

The homes will vary from two to four bedrooms, and range from $80,000 to $130,000. Outstanding amenities include: vaulted ceilings, crown molding, drapes and blinds, covered porches, fenced yards, one-car garages, waterwise landscaping, kitchen appliances and a 5-star Energy package. Eligible applicants may receive up to $5,000 in down payment assistance and closing costs.

Tramco Development, Inc. encourages interested applicants to attend the Open House today from 11:00 a.m. - 7:00 p.m. to view the model home, or contact their office at 416-7004.

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)