Community Development Trust partners with Austin Affordable Housing Corporation to acquire two properties in Austin, Texas
Clients Community Development Trust Inc.
Jones Day represented Community Development Trust Inc. in connection with its partnership with the Austin Affordable Housing Corporation, and subsequent acquisition by the partnership of two properties in Austin, Texas - The Bridge at Center Ridge and The Bridge at Tech Ridge - totaling 642 units.
The partnership will convert half of the units in each property into long-term affordable housing. The public-private partnership, between a private REIT and a public housing authority, creates high-quality affordable units without the use of the Low-Income Housing Tax Credit program.