Foundation Communities Permits $245M McCann Drive Redevelopment

Foundation Communities, the Austin nonprofit housing operator, has a building permit for its Crossroads redevelopment at 8801 McCann Dr. City of Austin permit 2026-136577 was issued Oct. 16 for a new four-story affordable building under the city’s Smart Housing program.

The permit lists Swinerton Builders Inc. as general contractor and applicant. It declares a total job valuation of $245 million. That is the applicant’s stated cost of the work, used to size fees, not a sale price, loan or appraisal.

Why it matters

Smart Housing projects get expedited city review, and this one moved from site plan to issued building permit in under a year. A site plan approved in November 2025 cleared demolition of the existing apartment buildings. For builders and subs, an issued permit with Swinerton attached means a north-central Austin affordable job is now hiring trades, not waiting on approvals.

The numbers

The permit splits the building into two connected fire areas. Fire Area 1 holds 90 new dwelling units, a leasing office and a learning center, and the city’s record counts 90 housing units. The second fire area’s contents are not itemized. The city’s Rental Housing Development Assistance application describes 110 new homes on the site, so the permit’s 90 may cover only the first fire area.

The filing covers 120,233 sq ft of new construction in council district 7. The $245 million declared value works out to about $2,040 per sq ft, a figure the permit does not explain. For comparison, the Austin Housing Finance Corp. board was asked in September 2025 to approve a loan of up to $11.7 million for the project.

What’s next

The permit is active and expires April 15, 2027, unless work starts and inspections keep it open. Watch for a revised valuation or a second permit covering Fire Area 2, either of which would settle the final unit count. For more on the local pipeline, see Austin.