The community we envision for Industry SOMA is welcoming, family-oriented, safe, and one the residents are proud to call home. We intend to build a small neighborhood of attached, aesthetically modern, townhomes that will provide a sense of pride, community, and stability for the families living there. As land and home costs continue to rapidly outpace income growth in the Austin area, we feel it is important to prioritize affordable communities for working families.
Principals: Michael Winningham & Jordan Scott
Civil Engineering: Civilitude
Architecture: Mark Odom Studio
General Contractor: Legacy DCS
Sales & Affordability: HomeBase
Industry SOMA, the first 100% affordable project under the Industry Affordable umbrella, is a community of 23 townhomes coming soon to Keilbar Lane in the South Menchaca neighborhood. While Keilbar itself is a quiet street, the South Menchaca neighborhood is bustling with energy. Families moving to the area are eager to purchase their first homes and raise their children in the surrounding neighborhoods. We are excited to bring some much-needed, for-sale, affordable, family housing to the area.
Community Vision:
The community we envision for Industry SOMA is welcoming, family-oriented, safe, and one the residents are proud to call home. We intend to build a small neighborhood of attached, aesthetically modern, townhomes that will provide a sense of pride, community, and stability for the families living there. As land and home costs continue to rapidly outpace income growth in the Austin area, we feel it is important to prioritize affordable communities for working families.
Affordability:
These homes will be sold to families earning up to 80% of the Median Family Income for the Austin metropolitan area. By utilizing the City of Austin’s Affordability Unlocked program, we were able to increase the number of homes to 23, more than doubling the amount of families we can serve with this project. We have also committed to building SMART homes, which guarantees a Safe, Mixed-Income, Accessible, Reasonably Priced, and Transit-Oriented community for our families.
Interested in purchasing an Industry SOMA home? Construction is getting underway and we are excited to identify qualified families ready to become new homeowners and community members at Industry SOMA! All 23 homes at SOMA are income-restricted and you may be wondering if YOUR family qualifies to purchase a home. We have made a commitment to the City of Austin that all homes will remain affordable for 99 years to families earning up to 80% of the median family income (MFI) in Austin, Texas.
That commitment not only places a limit on our buyers’ annual income at the time of purchase, but also caps our sales price at a reasonable amount based on the size of the home. Please see the chart below for current MFI limits and sales prices. If your current annual gross income does not exceed the maximum amount for a household of your size, you may qualify!
What is the process for buying a home at Industry SOMA?
Step 1: Complete the pre-qualification questionnaire at the bottom of this page
Step 2: An Industry Affordable team member will review your details and reach out to you if you are a candidate for homeownership at SOMA
Step 3: Industry Affordable will connect you to our partners at HomeBase who will guide you through the full qualification and purchase process (including help identifying a mortgage lender)
Step 4: Once construction is nearing completion, you will work with HomeBase and your lender to close on your purchase
Step 5: Move in!
