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Thursday, February 28, 2008 - 2:36 PM CST
Four Seasons developers make donation to Foundation Communities
Austin Business Journal
Foundation Communities, an Austin nonprofit that provides low-income families with affordable housing and other programs, received a $250,000 grant from the developers of the Four Season Residences Austin.
Ardent Residential and Post Properties [NYSE
PS], the development partnership behind the 32-story Four Seasons Residences, made the donation to the nonprofit.
The funds will be invested in the development of housing for individuals who have faced aimlessness.
"Walter and Foundation Communities have developed a model that goes beyond providing affordable, high-quality living for individuals and families in need," says Art Carpenter, a principal of Ardent. "The organization provides vital support services through their Community Learning Centers and the Individual Development Account program, bringing much-needed education and investment support to last a lifetime."
David Ward, executive vice president of Post Properties, adds: "We're excited to be a part of the Austin community and take pride in giving back to organizations such as Foundation Communities who work every day to serve and empower so many."
The Four Seasons residential tower is currently under construction next to the Four Seasons Hotel on Lady Bird Lake. The tower will include 9,000 square feet of retail.
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