This week, Austin FC confirmed its commitment to help construct affordable housing units in Austin with the announcement that the Club will provide $3.5 million in funding toward the development of affordable housing units in Austin. Austin FC’s $3.5M funding commitment will be donated directly to Foundation Communities, an Austin-based nonprofit organization and a leading developer of affordable housing units in Texas.
Austin FC’s $3.5M contribution to Foundation Communities will specifically be used to support Foundation Communities’ developments in North Austin, namely Juniper Creek which is scheduled to break ground in 2023. The Juniper Creek development will be located immediately adjacent to Foundation Communities’ 88-unit Laurel Creek development which recently opened in North Austin approximately one (1) mile from Q2 Stadium. Anthony Precourt, Majority Owner and Chief Executive Officer of Austin FC, made the landmark affordable housing announcement on March 30 at Foundation Communities’ Laurel Creek ribbon-cutting ceremony alongside Mayor of Austin Steve Adler and Foundation Communities’ Executive Director Walter Moreau.
In accordance with the terms of the Lease and Development agreement between City of Austin and Austin FC that was finalized in December 2018, the City of Austin formally approved Austin FC’s $3.5M financial commitment to Foundation Communities as having fully satisfied Austin FC’s obligation to cause development of affordable housing at a mutually agreed upon location. Foundation Communities’ Juniper Creek affordable housing development is scheduled to feature 135 affordable housing units upon completion.
“Austin FC had the privilege of working alongside Foundation Communities in 2019 when we supported the Waterloo Terrace affordable housing development that has since been completed near Q2 Stadium,” said Austin FC President Andy Loughnane. “As a result of our partnership’s initial success, we are honored to continue working with Foundation Communities to further support their ongoing mission of building more affordable housing units in Austin.”
Within the Laurel Creek Apartments opened this week, Foundation Communities set aside 18 units for formerly homeless families as part of its Children HOME initiative. The community is now 100 percent leased and 92 percent occupied. Of the 71 occupied units, 29 are leased to residents who are formerly homeless and 38 are leased to families who have household members with disabilities.
