The NRP Group has announced plans for Lakeside Lofts, a new affordable apartment complex consisting of 336 units. The project will be located on a vacant lot at 5606 U.S. Hwy 87 East and is estimated to cost $91.6 million.
The development will feature one-, two-, three- and four-bedroom units, reserved for tenants who earn between 30% to 70% of the area median income. The NRP Group intends to apply for low-income housing tax credits in order to make this project possible.
In addition, the company is also involved in another multifamily housing project in the Brooks area that will consist of market-rate apartments totaling 349 units near the former military complex campus. They are also partnering with Brooks Development Authority on a $78 million mixed-use development at Loop410 and Interstate37 interchange (photo). Construction is expected to begin soon after closing on the land earlier this year, with completion anticipated by2027.
