AUSTIN, Texas -- A new housing complex is celebrating its grand opening in East Austin, but unlike most other affordable housing options this one dedicates nearly all of its units to residents who need truly need them.

Aldrich 51 offers studios as well as one, two and three- bedroom apartments.

Rose Vasquez is quite content with her new home, a studio apartment, which she says is the perfect amount of space for her.

"I don't have enough words to say the greatness of this place. To me it's just awesome," said Vasquez.

The Aldrich 51 is a new complex in the desirable Mueller neighborhood.

"There are people who think that because it is such a beautiful environment they can't afford it, but the reality is they can," said Diana McIver, President of DMA Development Company.

Nearly all of its units are designated for low-income Austin residents and their families.

"Because of the way some of the affordability goes, developers do a tiny smidgeon of affordable units," said McIver. "We are the reverse of that."

The property intends to cater to young working individuals in the service industry who make a living on an hourly income.

"We are able to capture that market of really hard working folks that want to live here and be able to rent," McIver said.

The four-story complex allocates 85 percent of its units for affordable housing.

Qualifying incomes range from a single person who makes $16,000 a year, to a family of four earning around $52,000.

"I have never heard or seen anything like this that can benefit the people, this is something to appreciate," Vasquez said.

And after 30 years of living in Austin, Vasquez feels most at home in her newest home.

"I think I would like to stay here for the rest of my days, this is good for me,” she said.

The complex is already about 80 percent full.