Industry SOMA, an affordable townhome community, is now open for applications.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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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