LDG Development Obtains $50M Construction Loan For Kingswood Apartments Near Circuit Of The Americas

LDG Development has obtained a $50 million construction loan to build the Kingswood Apartments in Del Valle. The development site, located at 13411 FM Road 812, will consist of 328 units and offer affordable housing options for individuals and families with incomes at or below 60% of the median family income for Travis County. Rental rates for the apartments will range from $1,314 to $2,032. The project qualifies for a 4% tax housing credit program, which is expected to attract investors.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $50,000,000
• Market: Del Valle
• Address: 13411 FM Road 812
• Landlord: LDG Development - Chris Dischinger
• Loan Type: Construction Loan

LDG Development, led by Chris Dischinger, was able to secure the $50 million construction loan for the Kingswood Apartments project. The loan was obtained through the issuance of tax-exempt bonds by an Austin city agency. This financing will allow LDG Development to continue with the development of the 328-unit apartment complex, which aims to provide much-needed affordable housing options in the area near Circuit of the Americas. With rental rates designed to accommodate individuals and families with lower incomes, the Kingswood Apartments project aligns with the goal of expanding housing affordability in Travis County.