August 7, 2026 | by Anna Orendain
Categories: Affordable Housing, Spotlight
TSAHC periodically spotlights affordable housing developments across the state to help readers understand what they look like, how they are financed, and who lives there.
Earlier this summer, we announced our 2025 Annual Report. This week, we are focusing our spotlight on the Juniper Creek apartments, a property financed in part by TSAHC'S Multifamily Tax-Exempt Housing Bonds.
Juniper Creek is an apartment community located in north central Austin that was developed by Foundation Communities. The property opened in early 2026 and features 110 affordable apartment units targeted to serve households of varying income levels. Approximately 25% of the total units will serve those facing homelessness and households earning up to 30% of the area’s median family income.
The total development budget for Juniper Creek was $45.7 million. TSAHC provided $23.5 million in Private Activity Bonds to finance the majority of the project, with the remaining financing coming from housing tax credit equity, Wells Fargo, Travis County, Austin Finance Corporation and the Federal Home Loan Bank of Dallas.
Foundation Communities is an Austin based non-profit, well known for providing attractive and affordable apartment communities for low- and moderate-income families and seniors. To date, they’ve built or renovated over 3,600 apartment units in Austin and North Texas, providing homes for more than 8,000 residents.
In addition to housing, Foundation Communities also provides numerous services to their residents including after school care, adult educational programs, tax preparation, health coverage enrollment, financial wellness programs as well as healthy food pantries and other health initiatives.
Each year, TSAHC receives 10% of the state’s private activity bond volume cap for residential rental projects. Our statute requires us to focus the bonds on certain Targeted Housing Needs that our Board of Directors reviews and updates each year.
Our four primary Targeted Housing Needs for calendar year 2026 are:
1. At-Risk Preservation and Rehabilitation of Existing Affordable Units
2. Housing in Rural and Smaller Urban Markets
3. Senior, Service-Enriched and Supportive Housing Developments
4. Housing in Areas with Natural Disaster Declarations
For more information about our tax-exempt bond program, click here.
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