The Martingale is a 270-unit market rate apartment community with a full standalone parking garage located on Austin’s most recognized street, South Congress. The unique public-private partnership with the Austin Affordable Housing Corporation that financed the Martingale guarantees that half of the Martingale’s units are reserved for residents earning at or below 80% of the area median income. The site features easy access to both South Congress Avenue and I-35, bringing commuters to employment and entertainment centers not only in downtown Austin, but also in Southwest and Southeast Austin via Highway 290/Ben White Blvd. Residents can quickly reach the Austin Central Business District in 12 minutes via IH-35, or alternatively can utilize nearby South 1st and South Congress as back doors into downtown. Additionally, residents are within walking distance to the new state-of-the-art HEB grocery store and the 18-acre Oaks at Slaughter shopping center which is currently under construction. Residents also have abundant retail options at the well-established South Park Meadows shopping center less than a mile from the property. The Martingale boasts modern interiors with two different finishes, fully-equipped kitchens, a pool courtyard with lounge and seating areas, a 24-hour fitness center with yoga room, and a community room with kitchen.
Market Rate/Mixed Income
Developed in partnership with Housing Authority City of Austin, Martingale will provide much needed workforce housing in South Austin. Using the public private partnership, NRP was able to develop a property that otherwise wouldn’t have been used for housing, which in turn will provide residents more options in the future.