AUSTIN, Texas — Austin leaders are hoping to save older and affordable apartments through a new preservation fund.

Austin City Council member March Duchen spearheaded a resolution that was approved Thursday to create the "naturally occurring affordable housing," known as (NOAH), which will allow property owners access to money for repairs and upgrades while also keeping their units affordable.

The idea mirrors a similar program in Dallas , where Duchen said the city was able to set a dollar amount of $6 million through investors, philanthropy and grant dollars, which has grown to $40 million over time.

According to Austin's Assistant City Manager Eric Johnson, the city has a total of 28,375 units, which represent 789 buildings.

"We would actually create a trifecta; the trifecta would

See Full Page