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Austin, TX (2019)

Mission Plaza – Foundation Communities

Investment

  • NMTC Amount: $16,660,000
  • Total Project Cost: $19,462,176

IMPACT

  • 100 FTE jobs
  • 120 construction jobs
  • 75,242 sq. ft. of real estate

Investor

Project Description

This $17 million NMTC financing, in partnership with PeopleFund, MBS Urban Initiatives CDE, and US Bancorp Community Development Corporation, allowed Foundation Communities, a non-profit affordable housing developer, to acquire Mission Plaza, a 75,242 sq. ft. two-building complex in Austin. The project allowed the non-profit to create a new and larger Community Financial Center, which provides low-income residents with a wide variety of wrap-around services including, but not limited to, tax return preparation, AHA enrollment, and one-on-one personal financial counseling. The facility will also host a number of other non-profit headquarters, including Communities in Schools of Central Texas.

MAP

Address: 3000 South IH 35 Frontage Road, Austin, TX 78704

Census Tract: 48453002308

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