Austin Affordable Housing Corporation
Austin Affordable Housing Corporation, AAHC, a non-profit subsidiary of HACA, ensures and preserves quality, affordable housing opportunities and continues to pursue entrepreneurial endeavors. AAHC oversees the following components:
First-time homebuyers who are residents of the Public Housing or the Housing Choice Voucher Programs, have the opportunity to be awarded $10,000 towards the down payment of a home. The Homeownership Program loan is given on a first-come, first-serve basis as funding for the program continues. Loan applicants must first be qualified for homeownership and contribute a minimum of $2,500 towards the purchase of the home. The best part about the program is that the downpayment assistance loan is forgiven after five years if the homeowner is not in default.
Residential and Commercial Real Estate
AAHC owns and operates one retail shopping center, Eastland Plaza. The shopping center is currently 100 percent occupied. The majority of the occupants renting a space at Eastland Plaza are large, publicly traded corporations. A few of the occupants include: Walgreens, Subway, Pizza Hut, Shoe Show and Citi-Trends. AAHC owns and operates five residential real-estate properties: Bent Tree Apartments, Sterling Village Apartments, Sweetwater Apartments, Leisure Time Village Apartments, and Park at Summers Grove.
Six-Star Resident Program
The Six-Star Resident Program is intended for those who are ready to move out of public housing, but have not met all the qualifications to purchase a home. Once the family is housed in the Six-Star Program, all public housing assistance is discontinued. The Six-Star Resident Program’s participants have a choice to reside at one of AAHC’s apartments homes at a lower rate than the fair market rental rate. The program must be completed within three years. The rent amount increases slightly every year until the fair market rental rate is reached.
Located in Eastland Plaza, Emerging Enterprises Business Development Resource Center is an innovative nucleus for entrepreneurs. The resource center was formed to meet the need of those who have the desire to start a business, and provide them with the means and skills to own and operate a successful business. Emerging Enterprises provides office space, materials, computers, and classes in business management.