Housing and education sectors partner to increase affordable housing and early learning opportunities
Guadalupe Neighborhood Development Corp.
Can partnerships with housing providers and educators leveraging vacant school land increase access to affordable housing for low-income families while increasing access to quality education for children?
The project with Guadalupe Neighborhood Development Corporation (GNDC) will increase access to affordable housing and quality pre-school education for low-income families by using vacant school land to build new affordable housing, expand the school’s capacity, and enhance educational programming. The project will explore legal land-use structures between GNDC and the school, produce new affordable units, and provide wraparound services for residents.
With a contract award from Fannie Mae, the GNDC team has been able to:
Produce full design and engineering schematics for the site that meet the City of Austin’s green efficiency rating requirements.
Draft a land-ownership agreement between GNDC and the school.
Hire technical assistance to apply for Low-Income Housing Tax Credit (LIHTC) financing as part of the capital stack for the project.
By the end of the contract with Fannie Mae, GNDC expects to produce over 100 new affordable units with wraparound resident services. A portion of the contract award supports technical assistance for the school to prepare for an increase in the student population, which is expected to increase by 50%, and implement enhanced educational programming.
Watch the video to see how Guadalupe Neighborhood Development Corp. is partnering with a school to create new affordable units and improve education opportunities in a rapidly gentrifying neighborhood.
Guadalupe Neighborhood Development Corp. has provided affordable housing solutions to families from East Austin for more than 35 years. GNDC uses its resources exclusively for charitable and educational purposes related to the development and rehabilitation of high-quality, affordable housing for low- to moderate-income families. GNDC also works to improve, revitalize, and preserve residential neighborhoods.
Expanding Affordable Housing and Early Childhood Education