A former campus of the Austin Independent School District (AISD) is undergoing a significant transformation into affordable housing. The redevelopment project, located on the grounds of the former Anita Ferrales Coy School in East Austin, commenced with a ceremonial groundbreaking event held on Friday.
This initiative is part of a multi-phase redevelopment plan that will create a total of 675 housing units, with half designated as rent- and income-restricted for workforce levels. A spokesperson for the project highlighted the importance of this development in addressing Austin’s ongoing affordable housing crisis, specifically prioritizing low-income families and essential workers, including AISD teachers and staff.
Council Member Jose Velásquez emphasized the importance of creatively repurposing existing resources, stating, “This groundbreaking is proof that progress doesn’t always require more. Sometimes it just requires using what we already have wisely.” He noted the significance of converting a historic school into homes for those who serve the community.
The Austin ISD is collaborating with organizations such as Goldman Sachs and Clarion Partners to bring this redevelopment vision to fruition. Asahi Pompey from Goldman Sachs remarked, “The great people that power the city of Austin deserve great places to live. Our teachers, our bus drivers, our construction workers, deserve great places to live.”
Rather than selling the land, AISD opted to lease it to the NRP Group, which will generate a stable revenue stream for the district while facilitating the development of rent- and income-restricted units. “This is a really, really unique public-private partnership,” a representative noted, highlighting the site’s long history as a community asset since the 1950s.
Future plans for the property include a variety of amenities, such as a resort-style pool, a co-working lounge, a fitness center, and art installations created by local artists. Jason Glasser from Clarion Partners expressed confidence that the thoughtful design and preserved green spaces will honor the site’s history while investing in the future of its residents.
Matias Segura, Superintendent of Austin ISD, addressed the pressing affordability challenges faced by educators and staff, noting that rising housing costs are driving many away from the communities they serve. “Two-thirds of AISD employees identify as cost-burdened,” he said, emphasizing that the redevelopment represents a unique solution to enhance stability and well-being within the district and serves as a model for other school districts.
Reflecting on the project’s significance, José Velásquez, a city council member and native East Austinite, commended the collaboration between AISD and The NRP Group. He highlighted the project’s commitment to cultural preservation and representation in housing design.
The first phase of construction, comprising 341 units, is already underway, with the second phase set to commence later this year.
