The Austin City Council was given details at a work session following their regularly scheduled meeting Monday evening concerning a proposal by Three Rivers Community Action to redevelop property in central Austin near the post office into a $16 million multi-story apartment complex with underground parking and green space. Three Rivers is working with project partners to create a preliminary building design that fits well with adjacent uses and meets needs identified by the community, and Austin Mayor Steve King stated to KAUS during the “Meet the Mayor” segment of “Wright Here, Right Now” that the project would benefit everyone in Austin….
Medgaarden stated in a memo to the council that the building would house a mix of one, two, three and four-bedroom units, a property management office, a supportive services office and a community room. The apartments would provide workforce housing to low and moderate income individuals and families, and monthly rents are anticipated to range from $670 for a one-bedroom unit to $1,100 for four-bedroom units. If funding is secured in the 2022 Minnesota Housing request for proposal, construction would start in the summer of 2023 and units would be leased in the summer of 2024.