Ground broke for this over-55 affordable apartment community at Mueller this morning. It’s another string in the affordable bow at the old airport development with an interesting mix of units which chould be ready for move-in by the end of 2011.
There will be 201 units in the four story building next to the old control tower, and 171 of these will be reserved for families earning below 60% of the Austin Median Family Income (MFI).
What does this mean in practice? Here’s a table that shows maximum earnings for the different units with 2010 HUD data (This was taken from the speech by the developer DMA)
| # Units | Income qualification | Max. Income (single) | Max. Income (couple) |
| 30 | >60% AND <120% MFI | $62,000.00 | $78,050.00 |
| 85 | < 60% MFI | $31,020.00 | $35,460.00 |
| 60 | < 50% MFI | $25,850.00 | $29,550.00 |
| 26 | < 30% MFI | $15,550.00 | $17,750.00 |
Some of the features of the new homes are listed on the Wildflower Terrace website
- 9′ and 10′ ceilings
- Energy STAR appliances
- washer / dryer connections
- walk-in closets
- balconies / porches on most units
- Energy efficient – LEED certified building
One thing that excites me for the broader community is the ground floor commercial space in the complex – which could house the first coffee shop in Mueller proper (discountingStarbucks at the regional retail and the coffee trailer – Elixer at the Browning Hangar)
Here’s a quick video I took at the ground breaking ceremony.
Garreth Wlicock is a Realtor helping people sell and buy homes at Mueller Austin. Call 512.829.1351 if you would like to better understand the real estate market in the area.