AUSTIN – LDG Development LLC has gained city support to use tax-exempt bond funding to construct an affordable housing project.
The development, dubbed Kingswood Apartments, is set to rise at the corner of FM 812 and Burklund Farms Rd. It is estimated to cost $71 million.
When completed, Kingswood Apartments will have 328 units reserved for tenants with incomes at or below 60 percent of the median family income for Travis County, which is $70,080 for a family of four.
The development will have 48 one-bedroom units, 132 two-bedroom units, 124 three-bedroom units, and 24 four-bedroom units. Rents will start at $1,314.