Dallas,
TX
(December 16, 2019)—AMTEX Multi-Housing, LLC,
announced today that it closed financing and started construction on Limestone Ridge
Apartments — a multi-family affordable
housing community being constructed in Austin at 7011 McKinney Falls Parkway.
When
completed, Limestone Ridge Senior Apartments will be a community for 55+
seniors with annual incomes of up to 60% of the area median
income (AMI), which in Travis County, is $45,420 for a two-person household.
The community will offer
223 one- and two-bedroom units plus two 2-bedroom units allocated for on-site
managers. The community will also feature a one-story clubhouse and will have 405
surface parking spaces or 1.8 spaces per unit.
Residents
at Limestone Ridge will enjoy onsite amenities including a swimming pool,
walking trail and a community garden, as well as close proximity to McKinney
Falls State Park.
Social
services will be available onsite at no cost to tenants. Examples of services
provided at previous AMTEX projects include: a monthly character building
program; quarterly financial planning courses; quarterly health nutrition
programs; notary public services; twice monthly arts and crafts, and other
recreational activities; twice monthly onsite social services events; an annual
health fair and annual income tax preparation assistance.
The 225-unit project represents the second partnership between AMTEX and the Travis County Housing Finance Corporation, having previously partnered on McKinney Falls Apartments a 312-unit family apartment community that is in the final stages of construction and is scheduled for completion in April 2020. Construction on Limestone Ridge is expected to be completed in the Fall of 2021, with residents moving in immediately thereafter.
Limestone
Ridge Apartments is the tenth affordable housing project for AMTEX
Multi-Housing, Inc. in Texas that is either completed or under construction.
“We appreciate the Travis
County Housing Finance Corporation for partnering again with us on this project
to bring 225 new apartment homes for seniors to the Austin community,” said Arjun Nagarkatti,
President of AMTEX Multi-Housing. “When completed, Limestone Ridge will be a wonderful
place for area seniors to call home.”
