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$34 million development to help house homeless in North Austin

Espero Austin at Rutland will open up about 170 apartments.

AUSTIN, Texas — More housing will soon be dedicated to people who are experiencing homelessness in the Austin area.

Espero Austin at Rutland will open with about 170 apartments next year, according to a report by the Austin Business Journal. The development is priced at about $34 million.

RELATED: Austin City Council weighing $64 million in bonds for affordable housing

Units will be reserved for those whose incomes are 30% to 60% below the median family income, which was $95,000 in 2019. So, using those numbers, that's families who make roughly $33,000 to $65,000 a year.

The project will be spearheaded by developer The Vecino Group and the local nonprofit Caritas of Austin. Austin Housing Finance Corp. will also serve as a partner.

To read the full report, click here.

RELATED: Weeks-long homelessness summit begins in Austin to address 'a crisis on our streets'

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