ACF’s Award-Winning Housing Accelerator Spurs New Homes
CEO Mike Nellis and Board Member Patrick Rose accepting the ULI Award
Austin Community Foundation’s commitment to improving housing affordability across Central Texas continues to gain momentum—earning local recognition and fueling new investments that help more families find a place to call home.
This year, ACF’s Housing Accelerator Loan Fund received an Impact Award from the Urban Land Institute (ULI) in the Next Big Idea category, recognizing its innovative approach to financing affordable housing. Additionally, ACF is proud to announce two new investments through the Fund: Ovetta Rosedale and Goodnight Ranch.
The Housing Accelerator Loan Fund
The Housing Accelerator Loan Fund is designed to meet one of the region’s most pressing needs: affordable housing that keeps pace with Central Texas’ rapid growth. The Fund provides low-cost, flexible financing to affordable housing developers for short-term pre-development, land acquisition, subordinate construction, and bridge financing. The Fund recycles its capital as loans are repaid, creating a sustainable, revolving source of financing for new projects.
Since launching in 2023, the Fund has provided 10 loans totaling over $17.9 million in support of more than 1,200 new housing units in the Austin area.
Recognition from the Urban Land Institute
In August 2025, the Housing Accelerator Loan Fund received a ULI Austin Impact Award in the Next Big Idea category. The ULI Austin Impact Awards recognize outstanding work that shapes the built environment and creates transformative community impact. ACF was honored in the Next Big Idea category, which acknowledges innovative initiatives that can enhance the region’s quality of life. This recognition highlights how philanthropic capital can play a pivotal role in addressing one of the region’s most urgent challenges—housing affordability.
New Investments
Building on the ULI Austin recognition, ACF is announcing two new investments through the Housing Accelerator Loan Fund that will add to the region’s affordable housing pipeline and strengthen the Central Texas community.
Ovetta Rosedale
Ovetta Rosedale is a mixed-income community located in Central Austin. The Housing Accelerator provided a $2 million subordinate construction loan to O-SDA Industries, LLC, offering a 2.5% interest rate and a two-year term. This project will create 70 units of affordable housing for families earning between 30% and 80% AMI (area median income).
Located in a highly desirable neighborhood, Ovetta Rosedale is near jobs, grocery stores, parks, and medical facilities, making it an ideal location for families. Additionally, Ovetta Rosedale will feature an on-site pre-K that will serve both residents and the broader community.
Goodnight Ranch
Developed by Austin Habitat for Humanity, Goodnight Ranch will provide 47 units for homeownership in Southeast Austin, serving households earning less than 80% AMI. The Housing Accelerator provided a $2.3 million bridge loan, offering a 2.5% interest rate with an 18-month term.
“The support of partners like Austin Community Foundation helps us to keep homes truly affordable, with our prices generally one-third to one-half of the market cost for each home.” – Austin Habitat for Humanity
Together, We Can Close the Housing Gap
As Central Texas continues to grow, so does the need for creative, scalable solutions to housing affordability. The Housing Accelerator Loan Fund demonstrates what’s possible when philanthropy and innovation come together—and the recognition from ULI affirms that this collaborative model is making a lasting impact.
With support from community partners and donors, ACF is building a stronger, more inclusive Central Texas—one home at a time.
