AUSTIN, TX – The City of Austin Housing Department, in collaboration with DMA Development Company, LLC and the Austin Housing Finance Corporation (AHFC), announces the opening of Arbor Park, a newly developed senior housing community in District 6 at 6306 McNeil Drive.

This four-story, elevator-served multi-family development provides 147 residential units, primarily designated for households earning up to 80% of the median family income (MFI). The allocation of units ensures housing accessibility for seniors across various income levels:

• 12 units reserved for households at or below 30% MFI
• 48 units for households at or below 50% MFI
• 60 units for households at or below 60% MFI
• 27 units available at market rate with no income restrictions

Austin’s growing senior population faces increasing difficulties in securing affordable, high-quality housing. Arbor Park is designed to offer a stable, comfortable living environment for older adults in need of financially accessible options.

“Ensuring seniors have access to quality, affordable housing is a priority for our city,” says Mandy DeMayo, Interim Director of the Housing Department. “Arbor Park fills a critical gap by providing affordable rental units tailored to the needs of an often-overlooked demographic.”

JoEllen Smith, Executive Vice President of DMA Development Company, LLC, underscores the importance of developments like Arbor Park in maintaining housing stability for seniors. “Rising housing costs make it increasingly difficult for older adults—whether on fixed incomes or still in the workforce—to find secure, accessible, and community-oriented housing options,” Smith explains. “Arbor Park helps address this need while maintaining high standards of quality and amenities.”

Arbor Park’s development was made possible through strategic financial contributions from multiple sources, including $14.09 million in tax credit equity and a $2.2 million Housing Trust Fund loan facilitated by the Texas Department of Housing and Community Affairs (TDHCA) under the 9% tax credit program. This program allows developers to exchange awarded tax credits with investors for equity investments, typically covering 70% of total development costs.

Smith highlights the Low-Income Housing Tax Credit (LIHTC) program as fundamental to the project’s success, enabling the provision of below-market rents while maintaining quality accommodations. Financing partners Chase Bank and National Equity Fund (NEF) contributed to the initiative.

Additionally, the project received $2 million in gap funding from the Austin Housing Finance Corporation (AHFC) through the Rental Housing Development Assistance (RHDA) Program, supported by 2022 General Obligation (GO) Bonds.

“The funding from the City of Austin and the Housing Tax Credit program was instrumental in overcoming financial barriers,” says Smith. “The $2 million in gap funding ensured that Arbor Park could proceed despite rising construction costs and market fluctuations. These contributions not only helped launch this development but will also sustain its long-term affordability for Austin’s senior residents.”

Construction commenced in November 2021 and reached completion in September 2024.

Arbor Park offers modern residential features tailored to enhance the quality of life for its senior residents. The development includes a community room, fitness center, library/game room, and theater, fostering opportunities for engagement and socialization.

Each unit is designed with nine-foot ceilings, washer/dryer hookups, vinyl plank flooring, carpet, appliances, and miniblinds, ensuring both comfort and functionality.

Located approximately one mile from restaurants, places of worship, the Rattan Creek Community Center and Park, Northwest YMCA of Austin, and retailers like H-E-B, Arbor Park provides convenient access to essential services and recreational amenities.

As Austin continues to expand, initiatives like Arbor Park play an essential role in addressing the city’s housing needs. By focusing on affordability, quality, and community connectivity, this development contributes to a sustainable solution for older adults seeking secure and accessible housing.

For more details on Arbor Park or senior housing resources, interested individuals can contact the City of Austin Housing Department or visit its official website.