The Rail MLK Apartment Development Project

Transit Oriented Development (TOD) within the Chestnut Plaza redevelopment

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

   

  • PROPERTY TYPE: Apartment
  • INVESTMENT PROFILE:
  • INVESTMENT CATEGORY: Private Equity
  • TARGETED INVESTMENT PERIOD: 3 years
  • MINIMUM INVESTMENT: Contact us for more info

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