The Black-led nonprofit, BigAustin has plans of building its ASPIRE community project in North Austin, Texas. The non-profit developer has partnered with the Banc of America Community Development Company to build a resource center and affordable housing. Overall, both projects combined will cost about $65 million.
According to Big Austin’s CEO, Stacy Rhone, the ASPIRE community project will provide a new headquarters for the company. She mentioned that building a resource center was particularly important for BigAustin. Especially since, in the long run, it would help lower the costs of rent and provide an alternative for generating revenue.
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The ASPIRE community project will be developed on a 38-acres site near Graham Elementary School. Big Austin purchased this property in 2019 and the non-profit also plans to include middle-income workforce housing on-site. However, the workforce housing will be constructed as part of a separate development deal on roughly 30 acres.
Development plans for the ASPIRE community project
The ASPIRE community project covers the construction of a 20,000-square-foot resource center and a 400-unit multifamily affordable housing complex. Big Austin selected Mission DG to develop the affordable housing complex, which will be located adjacent to its resource center. The San Antonio-based private firm, Mission DG specializes in affordable housing projects.
ASPIRE community project will provide several amenities for BigAustin’s resource center such as podcast and multimedia rooms. Additionally, resources will be available to assist local creatives who may lack access to the technology they need. Several local law firms have also agreed to help with creating, filings for LLCs and other social impact needs. Rhone is hopeful that the new resource center will break ground by next fall.
Rhone said the zoning process for the ASPIRE community project has already been completed. But the major challenge for the project is the permitting process which she said is difficult to determine. Rhode is hoping that the permitting process goes smoothly without altering their plans so much. Otherwise, Big Austin might have to switch from affordable housing to a market-rate deal to complete the project.
