The Martingale is a 270-unit market rate apartment community with a full standalone parking garage located on Austin’s most recognized street, South Congress. The unique public-private partnership with the Austin Affordable Housing Corporation that financed the Martingale guarantees that half of the Martingale’s units are reserved for residents earning at or below 80% of the area median income. The site features easy access to both South Congress Avenue and I-35, bringing commuters to employment and entertainment centers not only in downtown Austin, but also in Southwest and Southeast Austin via Highway 290/Ben White Blvd. Residents can quickly reach the Austin Central Business District in 12 minutes via IH-35, or alternatively can utilize nearby South 1st and South Congress as back doors into downtown. Additionally, residents are within walking distance to the new state-of-the-art HEB grocery store and the 18-acre Oaks at Slaughter shopping center. Residents have abundant retail options at the well-established South Park Meadows shopping center less than a mile from the property. The Martingale boasts modern interiors with two different finishes, fully-equipped kitchens, a pool courtyard with lounge and seating areas, a 24-hour fitness center with yoga room, and a community room with kitchen.
Market Rate/Mixed Income
Gurban
270
28 months
Multi Family
Sold
06/15/2022
Developed in partnership with Housing Authority City of Austin, Martingale will provide much needed workforce housing in South Austin. Using the public private partnership, NRP was able to develop a property that otherwise wouldn’t have been used for housing, which in turn will provide residents more options in the future.