SAN ANTONIO, TX – Lynd, a San Antonio-based full-service multifamily property management and development company, has announced plans to develop a College Station apartment community, Ranch at Arrington, with partner T.R. Inscore. The 272-unit market-rate project is in close proximity to Texas A&M University and located within one of the fastest-growing metros in the nation. Construction is expected to commence later this month.
In addition to its property management business, Lynd has had a rich history of investing in and developing apartment communities throughout Texas, Illinois and Florida. While the company has several new development projects in the pipeline, Ranch at Arrington marks the first to move forward since A. David Lynd took over as president and CEO earlier this year.
“We are thrilled to once again team up with T.R. Inscore on a project that should accommodate the pent-up demand for non-student-oriented housing in College Station,” Lynd said. “This is no longer just a college town – the city is thriving with a diversified economy and extremely low unemployment.”
Located on 12 acres at 1650 Arrington Road, the Ranch at Arrington will have a mix of one-, two- and three-bedroom apartments in two- and three-story buildings. Units range in size from 539 to 1,402 square feet. Interior features include glass backsplashes, granite countertops, in-unit washers and dryers, soaking tubs, walk-in closets and custom cabinetry.
Ranch at Arrington residents will be able to take advantage of various resort-style amenities, including a swimming pool and heated spa, sand volleyball court, culinary kitchen, meeting rooms and a state-of-the-art fitness center with a dedicated yoga area.
“It is exciting to embark on another partnership with Lynd and develop a first-class community in the strong College Station submarket,” said T.R. Inscore President Ron Inscore. “With a diverse unit mix and an unparalleled offering of amenities, the Ranch at Arrington should appeal to a diverse group of renters.”
Lynd and T.R. Inscore have obtained an equity investment from a New York-based firm and secured FHA 221(d)(4) construction financing for the Ranch at Arrington.
Jarrad Thierath, vice president of development at Lynd, said this project is an example of how the company is starting to diversify its development strategy.
“College Station is one of several tertiary markets we plan on entering over the next few years because it doesn’t always make sense to chase yield in the larger, more competitive markets,” Thierath said.