Del Valle: County to Bond Local Developer on 280-Unit Project
Feature Photo: A view of the pool and an apartment building at Cypress Creek Apartment Homes at Lakeline Boulevard in Cedar Park, which was developed by Bonner Carrington.
by Art Benavidez
Del Valle (Travis County) — Travis County Commissioners recently passed a resolution to have Travis County Housing Finance Corporation (TCHFC) provide bonds for a 280-unit apartment complex.
TCHFC is proposing to issue bonds not to exceed $47.5 million for a development to be known as Cypress Creek at Stoney Ridge Apartments.
The property is approximately 13.3-acres and located north of the Elroy Road and Ross Road intersection.
A total of 280 units, with an average unit size of 987 square feet, will be available to families earning 60% of the area median income or below (MFI) and 53 will be available at 120% or below the MFI.
The unit mix will consist of 85 one-bedroom/one bath units, 15 one-bedroom/two bathroom units, 140 two-bedroom/two bath units, 36 three-bedroom/two bath units and 2 four-bedroom/two baths units.
Development plans describe three garden style, three-story buildings with a total of 288 units. A separate building will house the leasing office, with a community center, and other amenities.
The unit amenities include ranges, refrigerators, dishwashers and microwaves. All appliances will be stainless steel and Energy Star rated, stainless steel appliances.
Amenities will include a furnished fitness center, playground, swimming pool, community room, business center, playground and picnic area.
Austin-based developer Stuart Shaw, CEO of Bonner Carrington, is developing the project through the entity Cypress Creek Stoney Ridge LP.
Total construction cost for the project is $65,855,303. The total construction contract is $41.6 million.
The project is expected to be completed within 18 months of closing.
Bonner Carrington Construction LLC is the general contractor and the Fort Worth office of Pape Dawson Engineers, led by Brandon O’Donald, is the civil engineer.
Brain Lucke with Austin-based Kelly Grossman Architects rounds out the project team.
VBX Project ID: 2022-1111