May 12, 2026
·
Press Release
MANOR, Texas (May 7, 2026) — Elmington marked the opening of Blue Ridge Flats, a 321-unit affordable housing community in Manor, with a ribbon cutting ceremony on May 7 celebrating the addition of new housing options in the rapidly growing Austin region.
Located in one of the fastest-expanding areas of Central Texas, Blue Ridge Flats helps meet rising demand for affordable housing across the greater Austin metro. The community offers one-, two-, three-, and four-bedroom apartment homes for residents earning up to 60 percent of the area median income.
The ribbon cutting included remarks from Donnell McGhee, Director of Development at Elmington; Dianna Grey, Executive Director of the Strategic Housing Finance Corporation of Travis County; and David Bader, Austin President of Bank of America.
“Blue Ridge Flats represents what can be accomplished when public/private partners work together to expand access to quality, affordable housing,” said McGhee. “We’re proud to bring this community to Manor and help provide families and individuals in the Austin Metro with a place they can call home.”
“The groundwork we’re laying today will shape affordable housing for years to come,” said Dianna Grey.
“Today's ribbon cutting powerfully demonstrates what's possible when committed partners unite with a shared vision for our community,” said Bader. “This $114 million investment is a clear expression of Bank of America’s enduring commitment to affordable housing. Last year, Bank of America channeled $7.4 billion in financing towards 11,000 affordable housing units nationwide, and we remain dedicated to strengthening Austin through secure housing and economic prosperity.”
The development was made possible through collaboration among several public and private partners, including Bank of America, which provided debt and equity financing, along with support from Redstone Equity Partners, Stifel, Cedar Rapids Bank & Trust, the Strategic Housing Finance Corporation of Travis County, and the Travis County Commissioners Court.
Located less than 30 minutes from downtown Austin, Blue Ridge Flats provides residents convenient access to major employment centers, schools, parks, and retail along the US-290 corridor.
About Elmington
Elmington is a national leader in the development, acquisition, construction, and management of affordable, workforce, mixed-use, and mixed-income communities. The company owns and manages more than 13,000 units and currently has more than 4,000 multifamily units in its development pipeline.
About Strategic HFC
Strategic Housing Finance Corporation of Travis County is a quasi-governmental public nonprofit dedicated to expanding access to high-quality affordable housing for Travis County residents. Through bond financing, tax credit partnerships, and mission-driven investments, Strategic HFC develops and preserves affordable multifamily communities across the region. The organization owns and oversees 4,410 units and currently has 835 units under construction with more in the pipeline.