AUSTIN, TEXAS — The NRP Group, alongside the Housing Authority of Travis County, has broken ground on Sanara, a 348-unit affordable housing community in Southeast Austin. All apartments will be rent restricted to 60 percent of area median income. Located at 4401 E. Slaughter Lane, the development will span 13 three-story residential buildings across a 56-acre site.
The community will include 12 one-bedroom units, 120 two-bedroom units, 144 three-bedroom units and 72 four-bedroom units. Sanara also will provide residents a 24-hour fitness center, business center with coworking space, clubhouse with a lounge and community kitchen, outdoor pool with lounge seating, a children’s activity center and on-site playground. After-school care, financial literacy courses, ESL classes and first-time homebuyer programs will be offered at no cost to residents.
The development is supported by tax credit equity from MetLife Investment Management, with the tax credits syndicated by Redstone Equity Partners. PIMCO provided construction and permanent financing arranged by Berkadia. Safehold, a publicly traded REIT that provides ground lease financing to developers, also is participating as a ground lessor, marking the first use of its ground-lease structure for an affordable multifamily development in Texas. First units are expected to be complete by April 2027.