Austin, Texas is laying the groundwork for Cairn Point Cameron, a new multifamily housing project aimed at providing affordable living spaces for seniors. The development located at 1500 East St. Johns Ave will consist of 150 studio apartments specifically for individuals aged 55 and above who are at or below 50% of the median family income, according to the City of Austin.
The project heralded as a cornerstone for the city's affordable housing strategy, stands in the vicinity of the Northeast Early College High School and includes 100 units earmarked as permanent supportive housing; these units come with a host of supportive services, critical for those transitioning from homelessness. Interim Director for the City of Austin Housing Department Mandy DeMayo expressed her enthusiasm during the groundbreaking event, "We look forward to seeing the development progress continue as we all work together to address affordable housing needs as well as the needs of those exiting homelessness," as stated by the City of Austin.
With an average unit size of 520 square feet, Cairn Point Cameron fits into the broader city campaign to add over 1,000 units designated for individuals exiting homelessness by 2026, alongside projects like Espero Rutland and The Roz. Vecino Group's Director of Development Valentin DeLeon underscored the acute necessity of such endeavors, saying, "Due in part to a series of recessions, high housing costs, and shortage of affordable housing, older adults are now the fastest-growing segment of America's homeless population," as per the City of Austin. Thus, spotlighting Cairn Point's role in catering to a vulnerable and growing demographic.
The $42 million initiative benefits from a combined effort of public and private entities, including a joint partnership between the Austin Housing Finance Corporation (AHFC), Caritas of Austin, and the Vecino Group; and is also part of the Supportive Housing Initiative Pipeline (SHIP), a scheme leveraging approximately $110 million to construct over 2,000 new affordable units via 11 developments. Funding is pieced together through loans, federal awards, and low-income housing tax credit equity, paving the way toward a Sept. 2025 completion date.
