AISD Public Facility Corporation approves Anita Coy Apartments East transaction; developer plans demolition, remediation already underway

The Austin Independent School District Public Facility Corporation (PFC) unanimously approved a resolution authorizing the Anita Coy Apartments East transaction at a voting meeting on Oct. 7, 2025, clearing the way for financial closing and the next phases of work, the developer said.

The vote on agenda item 2.3 passed unanimously following presentations from PFC legal counsel Summer Greathouse and Nick Walsh of the NRP Group. Secretary Boswell moved to approve the resolution; a director seconded the motion. The board also approved two sets of prior meeting minutes earlier in the session.

Why it matters: the approved transaction formalizes the public–private partnership terms for redeveloping the former Anita Coy school site into multifamily housing. PFC counsel and the developer described negotiated community benefits (nonprofit space, public parks, tree preservation), affordability commitments tied to AMI levels and rent caps, long-term maintenance obligations enforceable by the PFC, and a set of financial returns to the corporation.

PFC overview and negotiated terms

Summer Greathouse, the PFC’s legal counsel, told directors the Public Facility Corporation is a nonprofit separate legal entity created to act on behalf of the school district for financing, constructing and developing public facilities. "This is not the school district. This is a separate entity," Greathouse said, stressing the separation of liabilities and the PFC’s role in public–private partnerships.

Greathouse summarized the negotiated economic returns to the PFC for the East phase: a $250,000 closing fee; 10% of the sales-tax savings realized by using the PFC as general contractor (stated as a payment of about…