LOUISVILLE, KY – LDG Development along with officials from Strategic Housing Finance Corporation of Travis County (SHFC) will gather to commemorate the ground breaking of The Paddock at Norwood, a new 228-unit affordable housing apartment community in Austin, Texas.
The Paddock at Norwood will feature beautiful one, two and three bedroom garden-style homes serving Texas families earning no more than 60% of the area’s median income. Deluxe amenities will include a furnished clubhouse, a business center with complimentary wi-fi, a state-of-the-art exercise facility and a lush outdoor setting complete with a gazebo, playground, picnic benches and permanent grills.
“Austin is considered one of the most energetic cities in the United States,” said Chris Dischinger, Principal of Louisville-based LDG Development. “The continued growth in population causes a growing need to provide housing. The Paddock at Norwood will be a perfect place for families because it’s within walking distance of Hart Elementary School plus a WalMart Supercenter, The Virginia L. Brown Recreation Center and St. John’s Park.”
All units will meet the City of Austin Green Standards and have Energy Star appliances which include a washer and dryer, dishwasher, refrigerator, stove and microwave.
Construction starts immediately on 12 acres of vacant land located at 1044 Norwood Park Boulevard; Austin, TX; 78753. The community is located near the Intersection of
I-35 and West Anderson Lane/183.
“Strategic Housing Finance Corporation of Travis County is supportive of efforts to bring affordable housing to the citizens of our community,” stated Executive Director Craig Alter. “We are pleased to work with LDG in a cooperative way to assure that this project is completed with minimal environmental impact, safe access, appropriate utilities and proper design.”
LDG Development wishes to acknowledge the Texas Department of Housing and Community Affairs for its allocation of housing tax credits, First Sterling for their equity investment, Citibank for providing the construction and permanent lending, and The Weber Group, Inc for architecture and design.
Capstone Real Estate Services will be the leasing agency. Those inquiring about pre-leasing should call 512-535-5748 or www.PaddockAtNorwood.com for more information. Rents will start at $755.
For more information please call Communications Manager Carolyn McLean at 502/409-1982 or cmclean@ldgdevelopment.com. Aerials of The Paddock at Norwood and renderings are available upon request.
About LDG: LDG Development is an award winning multi-family housing developer and owner whose passion for affordable housing is evident in the quality of their properties. They have developed or rehabbed over 4,000 units and numerous commercial properties in 12 states as far west as Texas and Kansas and most recently in Louisiana. www.ldgdevelopment.com