(ABC 6 News) — A new apartment complex designed to provide affordable housing options for the community cut the ribbon on Monday with the help from state and local officials.

The newest housing development in Austin, 1st & 3rd Apartments, is the latest attempt to tackle an ongoing shortage of affordable housing, and it came about through a large coalition of partners at the local, state, and federal level.

The Austin Housing Development Authority and Three Rivers Community Action developed the project alongside the Hormel Foundation and city and county partners.

Tenants meet differing income guidelines and one, two, three, and four bedroom apartments cater to working families large and small.

“Some units that are calculated to be affordable if you’re at 30% of median income, some at 60%,” said Laura Hanley, the housing development director at Three Rivers Community Action. “We have nine units that are called permanent supportive housing. So they’re attached to special services for people experiencing homelessness or people living with a disability.”

The Minnesota Housing Commissioner, Jennifer Ho, was in Spam City to lend support to the efforts Austin is making to address an affordable housing shortage while attracting workers to businesses like Hormel Foods.

“The idea of a company town, the idea that where there’s housing and jobs together, that’s what’s important. But for the first time really since like the 1930s, we’re at a place across America where we just have a shortage of units,” Ho said.

Shared amenities include underground parking, laundry on site, shared common areas, and an inclusive playground.

So far, 24 families are settling into the 40 available units, and more tenants are slated to move in over the coming weeks as the waiting list is full.