Seabrook Square to Bring More Than 200 Affordable Homes to Austin

Congratulations to our partner The NHP Foundation on Seabrook Square, which will bring 204 affordable rental homes to Austin, Texas, with 10 set aside as live-work residence-studios for artists. This development is NHP Foundation’s first foray into Austin. The project is a partnership with the Austin Housing Finance Corporation, and Capital A Housing. Seabrook Square is being financed by $40 million in tax-exempt bonds issued by the city of Austin, $32.3 million in 4% low-income housing tax credit equity by Boston Financial, $13.5 million in Austin Housing Finance Corporation subordinate debt financing, and $3.4 million Citibank construction bridge debt.