News Summary
South Austin welcomes a new affordable townhome community called Industry SOMA, with applications now open. Located at 1905 Keilbar Lane, this development will feature 23 townhomes priced between $235,000 and $270,000. Construction is expected to complete by March, providing much-needed homeownership opportunities for families and addressing the housing crisis in the area. With modern design and community spaces, Industry SOMA aims to foster stability and generational wealth.
South Austin Welcomes New Affordable Townhome Community: Industry SOMA
The vibrant city of South Austin is buzzing with excitement as applications are now open for a brand new affordable townhome community known as Industry SOMA. Located at 1905 Keilbar Lane, just a hop away from the busy intersections of William Cannon Drive and South Menchaca Road, this development is already creating a buzz in the neighborhood.
Construction Wrapping Up Soon
Homebuyers will be delighted to hear that the project is set for completion in March. With a total of 23 townhomes, this collaboration between Industry ATX and the Austin Housing Finance Corporation is aimed at addressing the ongoing housing crisis and providing affordable options for families looking to settle down in South Austin.
Prices That Don’t Break the Bank
One of the highlights of the Industry SOMA project is its affordable pricing. Homebuyers can expect to see prices ranging from $235,000 to $270,000. This initiative is designed specifically for families earning up to 80% of the median family income for the Austin metro area, making it a feasible option for many residents.
Stability and Generational Wealth
The goal of Industry SOMA isn’t just about selling homes; it’s about fostering homeownership opportunities that help retain families with generational ties to South Austin. Making homeownership accessible is crucial for building stability and generational wealth, allowing families to invest in their futures in a city they love.
Why Homeownership Matters
In a city where rental prices often skyrocket, affordable homeownership options like these are incredibly important. They provide families with the chance to plant roots deeper in their communities. The project focuses specifically on single-family homes rather than rental units, paving the way for more families to enjoy the benefits of owning their own space.
A Home to Call Your Own
The townhomes come equipped with impressive features that appeal to modern buyers. Expect to find vaulted ceilings, quartz countertops, solid wood cabinetry, and attractive wood composite flooring. The sizes of these homes range from 1,042 to 1,208 square feet, providing a comfortable living environment with plenty of room for families to grow.
Layouts to Suit Every Family
The development includes a variety of options for prospective buyers. Among the offerings, there are 20 three-bedroom townhomes with 1.5 bathrooms priced between $230,000 and $250,000. Families looking for more space can consider the three four-bedroom townhomes with two bathrooms, which are priced between $255,000 and $270,000. These layouts are ideal for families who need that extra bit of room.
Community and Green Spaces
Industry SOMA aims to create a sense of community with common living areas and inviting green spaces, ideal for families who love to connect with neighbors. Building an inclusive neighborhood where families can thrive is a key focus of this project.
Part of a Larger Story
This affordable development is just one part of a larger narrative of growth and needs in Central Texas, highlighted in various initiatives throughout the area. As the demand for affordable housing options increases, projects like Industry SOMA are crucial in providing solutions that benefit both current and future residents.
As applications open and construction nears completion, it’s an exciting time for families eager to call South Austin home. The future is bright at Industry SOMA!
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Additional Resources
- KVUE: Industry SOMA Affordable Townhomes
- Google Search: Industry SOMA Townhomes
- Community Impact: Breaking Cycle of Generational Poverty
- Wikipedia: Austin, Texas
- CBS Austin: Affordable Homes with Austin Habitat for Humanity
- Encyclopedia Britannica: Affordable Housing
- KXAN: Austin’s Long-term Housing Goals
- Google News: Austin Housing Development
- CBS Austin: Affordable Housing Plan for Teachers
- Google Scholar: Affordable Housing for Teachers
Author: STAFF HERE AUSTIN WRITER
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.
