INVESTMENT PROJECT INTRO

The Rail MLK is a 235-unit, five story apartment building development located in East Austin. The project is in a Transit Oriented Development (TOD) within the Chestnut Plaza redevelopment. Lonestar Development Partners (LDP) purchased the land in May 2016 and has partnered with LDG, a vertically integrated developer and general contractor, in a joint venture to complete this project. Additionally, LDP has partnered with the Rental Housing Development Assistance (RHDA) program to include 25% affordable units at various MFI levels in the project. RHDA contributed $2.5M to the project to help offset the costs of providing this level of affordability.

DETAILS ABOUT PROJEC

• Investment Type   Private Equity
• Total Project Size   $36,655,124
• Starting Time   July, 1st  2018
• Address   1800 Alexander Ave Austin, TX 78702