Austin Affordable Housing Corporation Board Meeting Agenda May 2026
Horizon Bank Bridge Loan for Bridge at South Point
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Description
Austin Affordable Housing Corporation plans to obtain a bridge loan of up to $13 million from Horizon Bank at 6.75% interest-only for six months to refinance the Bridge at South Point apartments. The short-term financing will allow time to structure a permanent debt solution for the 176-unit workforce housing property.
Contract Details
Contract Amount
Not to exceed $13,000,000
Vendor
HORIZON BANK
Agency
Austin Housing Authority, TX
Contract Type
FINANCIAL_SERVICES
Document Date
May 17, 2026
Contract Term
6-month term, interest-only at 6.75%
Renewal Date
2026-11-30
Renewal Info
Short-term bridge financing intended to be replaced by permanent debt; AAHC will return to the board with a long-term solution before or near maturity.
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