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LDG Development LLC bringing affordable housing near Tesla plant

​​AUSTIN – LDG Development LLC has gained city support to use tax-exempt bond funding to construct an affordable housing project.

The developme​​nt, 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.


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