The affordable apartments are rising on an undeveloped 3.3-acre lot on South Congress. Work on the project began in May, Hamilton said, with an estimated completion date near the end of 2025.

The project is taking advantage of the city’s Affordability Unlocked and SMART Housing programs, Hamilton said.

In exchange for providing certain levels of income-restricted units in a multifamily development, the SMART Housing program provides some development fee waivers, including permit, capital recovery and construction inspection fees. This can be critical for developers, as Austin’s development fees far outpace those of other large Texas cities.

The Affordability Unlocked program, on the other hand, is used to add density to projects. In return for setting aside at least half of a development’s multifamily units as affordable, developers can tap increased height and density, parking and compatibility waivers and reductions in minimum lot sizes.

“Affordability Unlocked allowed us to build the additional height and density necessary to make the project possible,” Hamilton said.

The requirements for Affordability Unlocked are in line with the terms of the loan agreement. Under those loan terms, Journeyman Group will develop The Matador with a minimum 50% of units offered to households making an average of 60% median family income. For a three-person household in Austin, 60% MFI was $59,580 in June 2022, according to the city of Austin Housing and Planning Department.

Though recent revisions to Austin’s light rail network plans shortened how far rail system will extend down South Congress, The Matador could still someday benefit from a train system. While the revised plans only go so far south as a station near the old Austin American-Statesman headquarters, a future extension could stretch south to Stassney Lane, about two-tenths of a mile north of The Matador.

Journeyman Group affiliates Journeyman Construction and JCI Management are attached to the project as general contractor and property manager, respectively, and Kelly Grossman Architects is attached as architect.

Here are some other deals that recently hit our radar:

Alliance Realty Partners LLC purchased 20.2 acres in the Thunder Rock development in Marble Falls. The seller was MM Marble Falls 1070 LLC and Alliance was represented by DMRE in the deal.

Banyan Interests LLC purchased 20.1 acres on Sprinkle Cutoff Road. GRMU Investors LLC was the seller and Banyan was represented by DMRE in the deal.

Powell Investments LLC purchased a 5,400-square-foot industrial property at 704 W. Powell Lane. 704 Powell Lane LLC was the seller and was represented by CSA Realty Group’s Hunter Muth.

Strategic Partnerships leased 6,123 square feet at Rialto II. The landlord was represented by Stephen Pannes and Patrick Ley with ECR.

SparkCharge leased 5,250 square feet at 251 Texas Ave. in Round Rock. Jim Rourke of Beck-Reit represented SparkCharge and Frances Crossley of KW Commercial represented the landlord.

Ironlight Group leased 4,496 square feet at the Littlefield Building, 106 E. Sixth St. The landlord was represented by Matt Levin and Jason Steinberg with ECR.

Condor Computing leased 4,291 square feet at Great Hills Corporate Center II, located at 9050 N. Capital of Texas Hwy. John Scoblick of Savills represented the tenant, and Jeff Henley and Jeffrey Henley Jr. of The Kucera Companies represented the landlord.

Texas Defender Service leased 3,838 square feet of office space at Kaleido II, located at 9390 Research Blvd. Graham Trull and Jeffrey Henley Jr. of The Kucera Companies represented the landlord.

SPS Poolcare leased 3,687 square feet of office space at Great Hills Corporate Center I, located at 9020 N. Capital of Texas Hwy. Carl Condon of Avison Young represented the tenant, and Jeff Henley and Jeffrey Henley Jr. of The Kucera Companies represented the landlord.

Amerigroup leased 3,645 square feet at 823 Congress. The landlord was represented by Matt Levin and Jason Steinberg with ECR.

Deyerle Silva Smith leased 3,482 square feet of office space at 3410 Far West Blvd. Martin Burgess of Austin Office Space represented the tenant, and Jeff Henley and Jeffrey Henley Jr. of The Kucera Companies represented the landlord.

USHealth Advisors Austin leased 3,471 square feet at 5508 W. Highway 290. The landlord was represented by Rebecca Zigterman & Jason Steinberg with ECR.

Make-a-Wish leased 3,320 square feet of office space at 3600 Bee Caves Road. Charles Hill of Tower Commercial represented the tenant, and Jeff Henley and Jeffrey Henley Jr. of The Kucera Companies represented the landlord.

Diggs and Sadler leased 3,219 square feet of office space at Stonebridge II, located at 9600 N. MoPac Expy. Brandon Harris of Foremark represented the tenant, and Jeff Henley and Jeffrey Henley Jr. of The Kucera Companies represented the landlord.

Capital City Smiles leased 3,189 square feet of office space at Greystone II, located at 7320 N. MoPac Expy. Jordan Drott of Carr represented the tenant, and David Stojanik and Graham Trull of The Kucera Companies represented the tenant.

Austin Central Park Pediatric Dentistry renewed its 3,084-square-foot lease at 1005 W. 38 St. The landlord was represented by Jason Steinberg and Matt Levin with ECR.

Capital Surgeons Group leased 2,967 square feet at Atrium Office Building, located at 8701 N. MoPac Expy. Lee Jackson of CareHub Working represented the tenant, and Jeff Henley, Graham Trull and Jeffrey Henley Jr. of The Kucera Companies represented the landlord.

Chris Philley leased 2,751 square feet of office space at 5806 Mesa Drive. Taylor Philley, independent broker, represented the tenant, and Jeff Henley and Jeffrey Henley Jr. of The Kucera Companies represented the landlord.

Keyrenter leased 2,663 square feet of office space at Corners Office Building, located at 3001 S. Lamar Blvd. Nick Triola of KPG Commercial represented the tenant, and Graham Trull of The Kucera Companies represented the landlord.

Accident Centers of Texas leased 2,490 square feet at 1420 Wells Branch Pkwy. W. in Pflugerville. Michael Noteboom and Joey Mendez of Resolut RE represented the landlord. Jodie Huynh of Emerald RE Partners represented the tenant.

Thrive Pediatrics leased 2,012 square feet of office space at Greystone I, located at 3415 Greystone Dr. David Cooke of Cooke Commercial represented the tenant, and Jeff Henley and Jeffrey Henley Jr. of The Kucera Companies represented the landlord.

Taproot leased 1,974 square feet of office space at Great Hills Corporate Center II, located at 9050 N. Capital of Texas Hwy. Graham Trull of The Kucera Companies represented the tenant, and Jeff Henley and Jeffrey Henley Jr. of The Kucera Companies represented the landlord.

Altenergy leased 1,905 square feet of office space at Chancellor, located at 8627 N. MoPac Expy. Dan Burke of AP Systems represented the tenant, and Jeff Henley and Jeffrey Henley Jr. of The Kucera Companies represented the landlord.

Front Page Agency leased 1,892 square feet of office space at Heritage Point, located at 13915 N. MoPac Expy. Jack Beare of Colliers represented the tenant, and Jeff Henley and Jeffrey Henley Jr. of The Kucera Companies represented the landlord.

Fyzical Therapy and Balance Centers have leased 1,832 square feet at 5770 MoPac Expy. Jim Rourke with Beck-Reit Commercial Real Estate represented the landlord and Britt Morrison and Brett Maze of Weitzman represented the tenant.

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