Ariana Brendle, our vice president for acquisitions in Texas, has announced that we will bring our unique brand of high-quality multifamily development to a second new construction project in Austin.
Bailey at Stassney will be a 100% affordable community featuring 104 apartments, among them 26 designated as permanent supportive housing (PSH) serving vulnerable communities.
“Bailey at Stassney will play a crucial role in addressing the critical need for supportive housing in Austin, while contributing to our ongoing expansion efforts. This community will foster a vibrant and safe environment for residents, along with essential social services that will help them thrive,” Ariana said.
National CORE, which has a more than 30-year record of building high-quality affordable communities indistinguishable from market rate developments, previously announced that Austin would be home to its first new construction project outside of California.
The Stassney development mirrors that first community, called Bailey at Berkman, which also offers 104 apartments, including 26 permanent supportive housing units.
“Both Bailey at Berkman and Bailey at Stassney reflect our commitment to bringing the highest quality affordable housing to communities in need,” National CORE President Michael Ruane said. “These two developments will strengthen our presence in Texas and while continuing to support residents with safe, affordable and supportive homes.”
The Bailey developments will add 208 apartments to 1,171 apartments at the six Texas communities we have acquired and operated over the last 20 years. The new developments will break ground in mid-2025 and are scheduled for completion by the end of 2026.