News Summary
Austin has introduced Cady Lofts, a new 100-unit permanent supportive housing community aimed at supporting chronically homeless individuals and those with disabilities. This development, a collaboration between SGI Ventures and the Austin Affordable Housing Corporation, will provide studio apartments with project-based vouchers, reducing financial burdens for residents. The community will also offer various wraparound services, including job training and benefits assistance, and reinforces the city’s commitment to addressing homelessness and housing affordability.
Austin Unveils Cady Lofts: A New 100-Unit Permanent Supportive Housing Community for Chronically Homeless Individuals
Austin has launched a new 100-unit permanent supportive housing (PSH) community named Cady Lofts, aimed at supporting individuals who have faced chronic homelessness or disabilities. This development is a collaboration between SGI Ventures and the Austin Affordable Housing Corporation (AAHC), which is a nonprofit subsidiary of the Housing Authority of the City of Austin (HACA).
Cady Lofts will provide studio apartments supported by project-based vouchers to assist residents with their rent and utilities, significantly reducing financial burdens. This approach is intended to foster long-term stability among residents. The complex also offers a variety of wraparound services at no cost, including benefits assistance, health screenings, and job training, all guided by Housing First best practices.
The opening ceremony of Cady Lofts was attended by key city officials, including Austin City Mayor Kirk Watson and HACA President Michael Gerber, alongside residents and community members. The project underscores the city’s commitment to addressing housing affordability and the unique needs of chronically homeless individuals.
Project Funding and Background
Cady Lofts is part of a broader citywide initiative, with today’s opening marking one of nine PSH projects launched in the past year to address urgent housing needs for the chronically homeless. The project has garnered significant financial backing, receiving $16.5 million from federal low-income housing tax credits and an additional $2 million from state housing tax credits. Additional funding sources include Cadence Bank, the City of Austin, Central Texas Housing Accelerator Fund, and the Texas Departments of Housing and Community Affairs.
As of now, Austin has 480 operational PSH units and expects to add 338 more units in the near future. However, a recent analysis by ECHO indicates that the city will require nearly 5,000 additional PSH units over the next decade to adequately address the growing needs of individuals experiencing homelessness.
The City of Austin’s Housing Department has also received $14 million through the Continuum of Care program, accompanied by a $6.7 million Pro Housing Grant to further bolster PSH projects in the region.
Facilities and Amenities
The Cady Lofts community is strategically located near essential amenities and public transportation, enhancing residents’ access to employment opportunities, healthcare, and education. Each studio apartment features modern amenities, such as air conditioning, Energy Star-rated appliances, and low-flow plumbing fixtures, and comes fully furnished. Residents can also take advantage of communal spaces, including laundry facilities, a computer lab, and a courtyard, which support a sense of community.
On-site offices are available for case management coordination, further emphasizing the project’s focus on not just providing shelter but also integrating comprehensive support services. This model aims to tackle the complex challenges residents face, such as mental health issues and unemployment.
Conclusion
With the launch of Cady Lofts, Austin continues to take significant steps toward addressing homelessness by creating sustainable housing solutions that are crucial for individuals in need. Through comprehensive support and modern amenities, Cady Lofts represents an important development in the city’s ongoing fight against chronic homelessness.
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Additional Resources
- Affordable Housing Finance: Cady Lofts Brings Housing and Services to Austin’s Chronically Homeless
- Wikipedia: Homelessness
- Austin Monitor: Homelessness Strategy Plan Calls for $101M in Spending from City, Partner Groups
- Google Search: Permanent Supportive Housing
- Community Impact: 100 Units for Tenants Exiting Homelessness Open at Cady Lofts in Central Austin
- Google Scholar: Chronic Homelessness
- KXAN: City Cuts Ribbon on Latest Permanent Supportive Housing Project
- Encyclopedia Britannica: Affordable Housing
- Business Wire: Hunt Capital Partners, SGI Ventures and Austin Housing Authority Celebrate the Grand Opening of 100 Affordable Studio Homes for Austin’s Unhoused
- Google News: Housing First Approach
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The AUSTIN STAFF WRITER represents the experienced team at HEREAustinTX.com, your go-to source for actionable local news and information in Austin, Travis County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as SXSW, Austin City Limits Music Festival, Formula 1 United States Grand Prix, and the Austin Film Festival. Our coverage extends to key organizations like the Greater Austin Chamber of Commerce and Visit Austin, plus leading businesses in technology, automotive, and retail that power the local economy such as Dell Technologies, Tesla, and Apple. As part of the broader HERE network, including HERECollegeStation.com, HEREDallas.com, HEREHouston.com, and HERESanAntonio.com, we provide comprehensive, credible insights into Texas's dynamic landscape.
