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Affordable Multifamily Housing Coming to Stone Oak: Stones Crossing Apartment Homes

When it comes to finding affordable housing options, families in Stone Oak will soon have a new option to consider. Pedcor Investments, an Indiana-based real estate development company, is planning to build a 336-unit affordable...

When it comes to finding affordable housing options, families in Stone Oak will soon have a new option to consider. Pedcor Investments, an Indiana-based real estate development company, is planning to build a 336-unit affordable apartment complex called Stones Crossing Apartment Homes. This development will be located at 23211 N. US 281.

Pedcor Investments has secured 4 percent housing tax credits from the Texas Department of Housing and Community Affairs, allowing them to secure $36.6 million in financing over a ten-year period. With a total estimated cost of $101.6 million, Stones Crossing will offer units marketed towards families earning 60 percent of the Area Median Income (AMI). Monthly rents will start at $979.

The project is being developed in partnership with the San Antonio Housing Trust and is expected to be completed by June 2027. Stones Crossing will not only provide much-needed affordable housing options but will also contribute positively to the community.

Stones Crossing Apartment Homes Stones Crossing Apartment Homes (Image Source: Community Impact Newspaper)

Austin Regional Clinic (ARC) is set to expand its services with the redevelopment of a property located next to two existing ARC clinics at 3816 and 2828 S. First St. The new medical office will be situated at 708 W. Ben White Blvd., which will involve the demolition of an existing building constructed in 1979.

The new office space will include a two-story medical office building spanning approximately 62,500 square feet, as well as a four-story, 98,000-square-foot unattached parking garage on the property's north side. The first floor of the building will house an ambulatory surgical center, with various specialty clinical spaces throughout the rest of the facility.

The property is owned by Austin Medical Properties LLC, and the project's designer is Lawrence Group Architects of Austin. Construction is expected to begin on September 1, with an anticipated completion date of December 1, 2025.

Austin Regional Clinic Expansion Austin Regional Clinic Expansion (Image Source: Austin Business Journal)

Meade Engineering, a Phoenix-based engineering firm specializing in electrical infrastructure design for mission-critical facilities, is expanding its operations with a new 3,400-square-foot office in Austin. The office will be located at 1250 S. Capital of Texas Hwy.

Meade Engineering has considerable experience working on big data centers and recently completed design work for Switch Inc.'s 32-acre data center, which is situated next to Dell Technologies Inc.'s campus in Round Rock.

The firm secured a four-year lease with the assistance of brokerage firm HPI. This expansion is a testament to Austin's growing status as a hub for technology and engineering companies.

Meade Engineering Meade Engineering Office (Image Source: Austin Business Journal)

The San Antonio zoning commission has approved the development of The Claudette, an affordable housing development that will be built on the site of a former charter school located at 137 University Ave.

The Claudette, a partnership between Partners in Community Development and Youth Empowerment Services Inc., will add 119 apartments to the uptown neighborhood. The project will be partially funded by 9 percent state low-income housing tax credits.

The apartments will consist of efficiency units, one- and two-bedroom units, and will be offered at rents ranging from 30 percent to 80 percent of the AMI. The complex will also feature amenities such as green space, a learning and business center, and a pre-K center.

This development will provide much-needed affordable housing options to the community while also repurposing a site that was previously dedicated to education.

The Claudette The Claudette Affordable Housing Development (Image Source: San Antonio Business Journal)

Dallas' Maravilla apartment community has been acquired through a $23 million loan. Located at 2625 Community Dr., the 310-unit complex offers a range of studio and one-, two-, and three-bedroom layouts, along with various amenities such as pools, a clubhouse, a pet park, a playground, a soccer field, and outdoor grilling and dining areas.

The property was purchased by a partnership led by Granite Towers Equity Group, with the loan arranged by Marcus & Millichap Capital Corp. This acquisition highlights the ongoing demand and investment activity in the Dallas multifamily housing market.

Maravilla Apartments Maravilla Apartments (Image Source: REBusiness)

Texas A&M University has broken ground on the Texas A&M Health Nursing Education and Research Building. This facility, located at the Texas A&M University Higher Education Center in McAllen, will serve as the home for Texas A&M School of Nursing programs and Texas A&M School of Veterinary Medicine & Biomedical Sciences research and outreach.

The $49.9 million building, authorized by the Texas A&M System Board of Regents, will encompass nearly 61,000 square feet and include four nursing classrooms, student study areas, a 10,000-square-foot clinical simulation center, and spaces for a veterinary clinic and research laboratory.

The School of Nursing will initially focus on offering its traditional Bachelor of Science in Nursing degree. The school expects to enroll approximately 50 students per semester, helping to address the critical shortage of nurses in the area. The School of Veterinary Medicine & Biomedical Sciences unit will provide important resources for researching various topics related to animal health and public outreach in South Texas.

The Nursing Education and Research Building is scheduled to open in time for the spring 2026 semester.

Texas A&M Nursing Education and Research Building Texas A&M Nursing Education and Research Building (Image Source: Texas A&M Today)

A joint venture between Eastham Capital and Mosaic Residential has acquired Sola Westchase, a 318-unit residential community located at 3354 Rogerdale Rd. Built in 1999 and recently upgraded by a previous owner, the community offers one-, two-, and three-bedroom units ranging from 626 to 1,436 square feet.

The property was 95 percent occupied at the time of sale, indicating its popularity among renters in the Westchase area.

Frisco is soon to be home to a luxury garage condominium project developed by George Smith Partners. This garage condominium will span across five acres and feature 53 units, offering climate control and top-notch security for car enthusiasts and collectors in the area.

Garages of America partnered with George Smith Partners for financing, securing $6.7 million in C-PACE financing and $14.4 million in fixed-rate construction debt. This development is expected to meet the high demand for luxury car storage facilities in Frisco and provide a specialized community for car enthusiasts.

RREAF Holdings LLC is embarking on an exciting development project—a $700 million Margaritaville Resort located on a 95-acre site at 317 East Beach Dr. This resort will rise 15 stories high and span 300,000 square feet of air-conditioned space, featuring 334 keys.

The resort will include a 2.5-acre elevated deck overlooking the beach, complete with a large pool, water slides, and a 350-ft lazy river. Additionally, the resort will offer a ballroom, pickleball courts, and a family entertainment center with an arcade.

To complement the resort, the developers plan to build 278 cottages on 15 beachfront acres located east of the resort. These cottages will range from two to six bedrooms and offer stunning views of the ocean. Construction is set to begin soon, with an estimated completion date in the first quarter of 2026.

Margaritaville Resort Margaritaville Resort (Image Source: Houston Business Journal)

The Bascom Group has acquired Texan 26, a 204-bed student housing property located near the University of Texas at Austin. The property offers units starting at 885 square feet, with rent prices beginning at $1,179 per month. The features and amenities of Texan 26 include private balconies, in-unit washer and dryer, modern kitchen appliances, and easy access to public transportation.

Matthews Real Estate Investment Services represented the undisclosed seller, while Bascom Group managed the acquisition process. Newmark assisted in arranging acquisition financing through Bridge Investment Group. This off-market deal highlights the popularity and continued investment in the student housing market near UT Austin.

Leander is preparing for the arrival of Southbrook Station, an exciting new dining and retail strip located off US 183. This development, set to be completed later this year, is already 60 percent preleased. Negotiations are currently underway to bring in even more restaurants and retailers, aiming for the project to reach approximately 90 percent occupancy.

Confirmed tenants include popular names such as Cava, Crust Pizza, Einstein Bros. Bagels, McAlister's Deli, Smoothie King, CareNow Urgent Care, Enamel Dentistry, Great Clips, Take 5 Oil Change, and Waxing the City.

With its diverse range of dining and retail options, Southbrook Station will soon become a vibrant hub for the local Leander community.

Plaza San Antonio Hotel and Spa has undergone major renovations since 2020. Now, after four years of construction, the hotel is back and better than ever. With 253 rooms, two restaurants and bars, and 19th-century buildings housing a day spa and a bungalow suite, Plaza San Antonio offers a luxurious and rejuvenating experience for its guests.

In addition to its resort-style pool, the hotel boasts over 21,000 square feet of event space, including a nearly 6,000-square-foot ballroom. While the hotel currently offers limited in-room services, full-suite services will be available to all guests starting in March.

Plaza San Antonio Hotel Plaza San Antonio Hotel (Image Source: Community Impact Newspaper)

Embrey Realty has acquired 74 acres of land at I-35 North and Cibolo Valley Dr. in Schertz for a new townhome community. This gated community will consist of 318 duplex-style townhomes with one-, two-, and three-bedroom layouts available.

Residents will have access to various amenities, including a fitness center, swimming pool, and outdoor recreational areas. This new development will provide comfortable and modern living options for individuals and families in the Schertz area.

Walton Global, an Arizona-based real estate company, has acquired 140 acres of land for a residential project in Rhome. This development adds to the existing 750-acre North Star development, which began construction in 2018. North Star is a master-planned community that will eventually have 2,000 homes, with the initial phase of 1,500 homes already completed.

The land acquisition was made through Walton Global's Builder Land Financing program and managed by affiliates of Fortress Investment Group. The homes within the North Star community are being built by renowned builders such as D.R. Horton, Meritage, and Riverside Homebuilders.

This expansion reflects the continued growth and investment in the Rhome area, providing more housing options for residents in the region.

Curve Development, an Arizona-based developer, has broken ground on a single-family rental project within the Painted Tree development in McKinney. The 46-acre project, called Cyrene at Painted Tree, will feature 300 single-family homes with three to four bedrooms, two-car garages, and private backyards.

As part of the 1,100-acre Painted Tree development, this rental project caters to the growing demand for high-quality rental housing options in McKinney. Leasing is expected to begin later this year, providing individuals and families with a modern and convenient living experience.

Hill Country Village is undergoing a major transformation with the construction of a new City Hall. The design and construction contract has been awarded to LPA Design Studio, and the new facility will feature 9,850 square feet of space to accommodate the police and public works departments, as well as provide meeting and workspace for city operations.

Additionally, the City Hall will have covered parking spaces measuring 1,850 square feet. This project aims to provide improved facilities and services for the Hill Country Village community.

Hill Country Village City Hall Hill Country Village City Hall (Image Source: Community Impact Newspaper)