LS Black Building $88M Round Rock Affordable Rental Project

LS Black is building an $88 million rental community north of Austin, in Round Rock. None of the units are market rate apartments. The Preserve at Mustang Creek,  will consist entirely of apartments priced for households that make 30% to 60% of the area median income. 

Public financial partners include Capitol Area Housing Finance Corp. and the Texas Department of Housing and Community Affairs. Private financial partners include Red Stone Tax Exempt Funding and WNC & Associates. Merriman Anderson Architects and Cadence McShane Construction are working on the project. 

The Preserve at Mustang Creek will rise on about nine acres in Round Rock at 1401 County Road 118. Apartments will range from one- to four-bedroom floor plans, and the development will feature a large solar carport that will offset 90% to 100% of common electricity use.