Abilene Apartment Project Secures $66M Construction Loan

• Martin Inderman Development has secured a $66 million construction loan to build The Lariat at Abilene, a 312-unit apartment community in Abilene, Texas.
• The financing, provided by Dwight Capital, will support a multifamily project aimed at easing housing demand driven by OpenAI's Stargate data center campus.
• The development will feature modern amenities including a pool, fitness center, and pickleball court.

What the Apartment Development Includes

Martin Inderman Development has secured $66 million in construction financing for The Lariat at Abilene, a new 312-unit multifamily community planned on a 13-acre site along McKinley Drive in Abilene, Texas. The loan, provided by Dwight Capital, equates to approximately $212,000 per apartment and will fund construction of a community featuring a resort-style pool, fitness center, and pickleball court. The project arrives as Abilene faces one of the fastest-growing housing markets in Texas following the construction of OpenAI's Stargate campus.

What Is Driving Housing Demand in Abilene

The Lariat is expected to help address a growing housing shortage created by the development of Stargate, OpenAI's planned 4-million-square-foot data center campus. Since construction began, thousands of workers have moved into the city, putting significant pressure on Abilene's rental market. The rapid population increase has driven rents sharply higher, while existing housing options—including mobile home parks and hotels—have reached capacity. According to local reports, median monthly rent increased from approximately $1,200 to $1,700 within a year, highlighting the growing need for additional housing as large-scale technology investments continue transforming the region.

What This Means for the Local Housing Market

While The Lariat will add more than 300 new apartments, local officials acknowledge that much of today's housing demand is tied to the temporary construction workforce building the Stargate campus. As a result, the city has pursued both long-term multifamily developments and shorter-term housing solutions to accommodate workers while avoiding an oversupply once construction activity slows. The project nevertheless represents an important investment in Abilene's housing inventory and demonstrates how private developers are responding to rapid economic growth fueled by artificial intelligence infrastructure.

What Industry Leaders and State Officials Are Watching

The expansion of data centers across Texas has generated growing debate among local governments and state leaders. Communities have raised concerns about water consumption, energy demand, tax incentives, and long-term impacts on infrastructure. Although no public statement accompanied the financing announcement, the project reflects how AI-related investments are creating ripple effects beyond technology, driving new residential development to support workforce housing. At the state level, Texas Governor Greg Abbott has recently called for greater oversight of data center development, including restrictions on projects in rural communities, signaling that housing and infrastructure challenges tied to AI growth are becoming an increasingly important policy issue.