Meeting the urgent need for affordable homes
The Housing Accelerator combines research, collaboration and philanthropic resources to accelerate access to affordable housing in Central Texas. Our loan fund provides fast, flexible capital that leverages public and private dollars to accelerate the pace of affordable housing production and meet the urgent need in our region.
Fast, flexible capital to accelerate affordable housing
The demand for affordable housing far exceeds the supply, and homes can’t be built fast enough to meet the growing need. Meanwhile, affordable housing developers lack access to the quick, low-cost financing necessary to acquire land and build a range of housing options.
The Housing Accelerator Loan Fund seeks to address this issue by providing low-cost capital and concessionary financing to affordable housing developers for short-term pre-development, land acquisition, and bridge financing. This financing model fills a gap in funding sources, enabling developers to acquire land and build more affordable units.
Designed to recycle capital and have a long-term impact, the loan fund has the potential to leverage $280 million toward the construction of 850 units in the first 5 years of operation.
How it works
Current investments
Cady Lofts
- 100 units with onsite services for people transitioning out of homelessness
- Desirable location in Central Austin
- $2 million loan for construction
- 2.5% rate with a 2.5 year term
Foundation Communities
- 200 unit rehab, 400 new units for adults with intellectual disabilities in partnership with Mary Lee Foundation
- Lamar Square in South Austin
- $2 million loan for land acquisition
- 2.5% rate with a 2.5 year term
Strategic partnerships
A key to the success of an accelerator fund is strong, mutually beneficial relationships across industry sectors. Our collaborators’ investment in the Housing Accelerator Loan Fund helps maximize its impact toward more affordable housing options in Central Texas.