NRP Group and Austin ISD Break Ground on $142M School-to-Housing Conversion

NRP Group and Austin ISD break ground on a $142M school-to-housing conversion at the Anita Ferrales Coy facility, offering affordable units for teachers and staff.

By: AXL Media

Published: Mar 13, 2026, 7:54 AM EDT

Source: https://www.multihousingnews.com/

Innovative School-to-Housing Model

The redevelopment of the 18-acre Anita Ferrales Coy Facility at 4812 Gonzales St. represents a bold solution to Austin’s housing crisis. By leveraging underutilized school district land through a long-term ground lease, AISD is generating a sustainable revenue stream while directly addressing the fact that two-thirds of its employees are currently "cost-burdened."

The project is situated within a federally designated Opportunity Zone, drawing private equity from Clarion Partners and construction financing from Goldman Sachs Alternatives’ Urban Investment Group.

Phased Development & Unit Allocation

The project will be delivered in two distinct phases, with the first residences expected to begin lease-up in the fall of 2027.

Phase I: 341 units (Now Under Construction)