AUSTIN, TX – The City of Austin Housing Department celebrates the grand opening of Saison North located in District 7 at 10010 N Capital of Texas Highway. In partnership with O-SDA Industries, Saigebrook Development, and Hunt Capital Partners, the five-story, elevator-serviced, mixed-income housing development boasts 116 units. The new community expands affordable housing opportunities in Austin, with 70% of the units reserved for households earning at or below 60% Median Family Income (MFI) and 30% of the units available at market rate. 

“Saison North is the result of a creative and collaborative vision,” explains Mandy DeMayo, Interim Director for the Housing Department. “The community includes 116 new affordable, energy efficient units, which will provide access to numerous employment opportunities in the immediate area.  We are so excited to be part of the collaboration that made this development a reality.” 

Saison North is another success story of development collaboration. Hunt Capital Partners syndicated $15.0 million in federal Low-Income Housing Tax Credits (LIHTCs) through its multi-investor fund, Hunt Capital Partners Tax Credit Fund 43. Lenders included Bank OZK, who provided a $19.5 million construction loanand JPMorgan Chase, who provided a $12.9 million permanent loan. Other financing sources included a $2.4 million construction-permanent loan from Travis County, a $6.2 million soft loan from Austin Housing Finance Corporation, and a $375,000 soft loan from Texas State Affordable Housing Corporation. 

“Hunt Capital Partners is grateful for the opportunity to partner with O-SDA Industries and help advance the supply of affordable housing for low-income families in Austin,” said Hunt Capital Partners Acquisitions Senior Director Omar Chaudhry. “Saison North not only provides a much-needed affordable home for Austin families, but also offers a range of community-focused amenities where residents can flourish through supportive services, local artwork, and energy-efficient fixtures.”

“We are thrilled to be able to provide 116 units of affordable housing in such a desirable location that is near so many employment opportunities for our residents,” said Megan Lasch of O-SDA Industries. 

Saison North Background

The interior of Saison North, a mixed-income housing community. Photo credit: Chad Davis at Chad Davis Photography

Situated on the former site of Austin’s NXNW Brewery, Saison North repurposes elements from the previous structure into its overall design. O-SDA Industries collaborated with four Austin-based artists to transform the original NXNW Brewery signs into unique works of art, which are displayed throughout the property to pay homage to the site’s history and foster a sense of community.  

Saison North introduces 48 one-, 44 two-, and 24 three-bedroom homes equipped with modern amenities which include granite countertops, resilient flooring, tiled kitchen backsplashes, tiled tub surrounds, and connections for cable and internet. Residents have access to a variety of high-quality community amenities, which include a fully furnished clubhouse with a community kitchen, a fitness center, a business center, a leasing center, bicycle parking, and complimentary Wi-Fi in all common spaces. 

Built to meet National Green Building and Austin Energy Green Building certifiable standards, Saison North represents O-SDA Industries’ efforts toward developing environment-friendly housing. The community integrates amenities that improve energy conservation, which includes Energy Star appliances, high efficiency lighting, and low flow plumbing fixtures. In addition to its green features, Saison North also offers a variety of services ranging from childcare to adult support that will be provided by Portfolio Resident Services free of charge. 

The Austin Housing Finance Corporation thanks all the partners who helped make Saison North a reality. Resources for affordable housing are available online at www.austintexas.gov/housing.

Rendering of Saison North, a mixed-income housing community. Photo credit: Affordable Housing Texas 

About the City of Austin Housing Department

The City of Austin Housing Department provides equitable and comprehensive housing, community development, and displacement prevention to enhance the quality of life of all Austinites. To access affordable housing and community resources, visit www.austintexas.gov/housing. 

About the Austin Housing Finance Corporation

The Austin Housing Finance Corporation (AHFC) was created as a public, non-profit corporation and instrumentality of the City of Austin. The mission of the AHFC is to generate and implement strategic housing solutions for the benefit of low- and moderate-income residents of the City of Austin. 

About O-SDA Industries 

O-SDA Industries, LLC is a City of Austin MBE/WBE/Texas HUB certified real estate development firm with deep expertise in building affordable housing communities that meet the unique needs of each city and individual neighborhood they serve. Since 2011, O-SDA has been part of over 25 successful 9% Housing Tax Credit applications for projects across the state of Texas.

About Saigebrook Development

Saigebrook Development, LLC creates exceptional affordable housing developments that serve the local workforce while also providing options for market rate rental units within each community. Established in 1996, the WBE- and HUB-certified real estate development consulting firm has developed and constructed more than 6,800 rental homes across the southeastern United States.

About Hunt Capital Partners

Hunt Capital Partners (HCP) is the tax credit syndication division of Hunt Companies, Inc. (Hunt). HCP specializes in the sponsorship of Federal and State Low-Income Housing, Historic, and Solar Tax Credit Investments funds. Since its inception in 2010, HCP has raised over $3.3 billion in tax credit equity in over 48 proprietary and multi-investor funds. HCP manages almost 760 project partnerships representing over 75,000 homes in 48 states and territories. Founded in 1947, Hunt is a privately held company that invests in businesses focused in the real estate and infrastructure markets. The activities of Hunt’s affiliates and investors include investment management, asset management, property management, development, construction, consulting and advisory. For more information on HCP, please visit www.huntcapitalpartners.com, or for Hunt, please visit www.huntcompanies.com.