New Affordable Housing in Austin: Red Oaks Apartments Open in Anderson Mill with 70 Income-Restricted Units
For many Austin residents, finding a home that fits their budget has become one of the city’s most pressing challenges. The opening of Red Oaks Apartments in Northwest Austin signals a meaningful step toward easing that pressure—offering 70 new affordable housing units in a part of the city where demand continues to outpace supply.
Located at 11723 N FM 620 Road in the District 6 Anderson Mill area, Red Oaks brings income-restricted housing options to households earning at or below 30%, 50%, and 60% of the Median Family Income (MFI). For families navigating rising rents and cost-of-living increases, developments like this are more than new construction—they represent stability, proximity to jobs, and the ability to remain part of the Austin community.
City leaders say that impact is intentional.
“In a housing market as competitive as Austin’s, projects like Red Oaks Apartments are essential to ensuring Austinites of all income levels can continue to live and thrive in our city,” said Deletta Dean, Director of Austin Housing.
Why Affordable Housing in Austin Matters More Than Ever
Austin’s rapid growth has brought opportunity—but also rising housing costs that continue to challenge residents across income levels. According to City of Austin affordability data, a significant share of households are considered “cost-burdened,” meaning they spend more than 30% of their income on housing. For many lower-income households, that percentage is even higher, leaving less room for essentials like healthcare, transportation, and childcare.
The gap between wages and housing costs has made it increasingly difficult for working families, seniors, and essential workers to remain in the city. In some cases, residents are forced to move farther from employment centers, contributing to longer commutes and community displacement.
That’s where developments like Red Oaks come into focus—not just as housing, but as part of a broader strategy to maintain Austin’s economic diversity and neighborhood stability.
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A Community Designed for Everyday Living
Red Oaks Apartments offers a mix of studio, one-, two-, and three-bedroom units, designed to serve a wide range of household sizes. Inside, residents will find features typically associated with market-rate housing, including energy-efficient appliances, stainless steel finishes, quartz countertops, and in-unit washers and dryers.
Shared amenities—like a fitness center, café-style spaces, roof decks, and a library-style reading room—are intended to foster a sense of community while supporting day-to-day convenience.
“At Housing Trust Group, we believe that working professionals and families who are the backbone of Austin's economy deserve high-quality housing options, just like anyone else,” said Matthew Rieger, President and CEO of Housing Trust Group. “Red Oaks is a reflection of that commitment — 70 beautifully designed apartments with resort-style amenities.”
A Collaborative Approach to Solving Austin’s Housing Needs
The $26 million development reflects a layered public-private partnership that city officials say is critical to addressing Austin’s housing shortage. Funding sources include Low-Income Housing Tax Credits allocated by the Texas Department of Housing and Community Affairs, private financing, and a $4 million loan from the Austin Housing Finance Corporation (AHFC) through the City’s Rental Housing Development Assistance (RHDA) Program.
The RHDA Program plays a key role in closing financial gaps for developments like Red Oaks, allowing projects to move forward while ensuring long-term affordability for residents.
The Austin Housing Finance Corporation, a public nonprofit affiliated with the City, focuses on implementing strategic housing solutions for low- and moderate-income residents—while Austin Housing works more broadly to create and preserve housing opportunities that stabilize communities.
Developers say these partnerships are essential to making projects like Red Oaks possible.
“Communities like this are only possible when the public and private sectors come together around a shared goal, and we're incredibly grateful to the City of Austin and the Austin Housing Finance Corporation for trusting us to deliver on that promise,” said Rieger.
Preventing Displacement Before It Starts
Local leaders also emphasize that affordable housing is not just about supply—it’s about prevention.
"As we think about the many ways we approach homelessness and affordability, we know one of the most effective strategies is to prevent housing instability before it begins," said District 6 Council Member Krista Laine. "Developments like Red Oaks are so important to our communities because they create options for working families, seniors and neighbors who might otherwise be pushed further and further out of Austin or into crisis."
By offering housing in established areas like Anderson Mill, Red Oaks aims to help residents stay connected to schools, jobs, and support systems—an outcome many say is critical to preserving the fabric of Austin neighborhoods.
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What This Means for Austin Residents
For those searching for affordable housing in Austin, Red Oaks represents a new opportunity in a highly competitive market. Prospective residents can learn more about leasing and eligibility at redoaksapts.com.
More broadly, the development reflects a continued push by the City of Austin, AHFC, and private partners like Housing Trust Group—an experienced national developer with billions in completed projects—to address affordability through scalable, long-term solutions.
What Happens Next
While Red Oaks adds 70 units to Austin’s housing inventory, demand across the city remains high. City leaders continue to prioritize similar developments as part of ongoing efforts to close the affordability gap and ensure residents at all income levels can remain in Austin.
For residents watching the city grow, projects like Red Oaks offer a glimpse into how Austin is working to balance that growth with accessibility—and keep its communities intact.
Stay tuned to My Neighborhood News for updates on housing developments, community growth, and what it means for residents across Austin.
Tiffany Krenek has been on the My Neighborhood News team since August 2021. She is passionate about curating and sharing content that enriches the lives of our readers in a personal, meaningful way. A loving mother and wife, Tiffany and her family live in the West Houston/Cypress region.