Feature Illustration: Artist rendering for the proposed project. Image: Founders Development.
Posted: 7-20-2025
Cleburne (Johnson County) — Founders Development Company has announced it will develop the multifamily project, RailRoad Lofts.
The project is part of the master plan for the Railhead Addition. The development is now officially open for investment, with private capital opportunities available for qualified partners.
Strategically located adjacent to the well-known baseball stadium, La Moderna Field, home of the Cleburne Railroaders minor league baseball team. The project’s access to the junction of U.S. Highway 67, SH 171, and the Chisholm Trail Parkway, RailRoad Lofts will be a mixed-use project will ultimately include townhomes, build-to-rent homes, retail, restaurants, a hotel, and a medical center, making it one of the most ambitious developments in the city’s history.
“This project checks every box: growth corridor, entitlement-ready land, high-demand multifamily housing, and a mixed-use vision that builds real community,” said the developer and founder of Founders Development Company, Cary Clarke. “After evaluating countless opportunities, this is the first one in over a year that lit up green from every angle, from land to demand price, rent growth potential, and location. We’re proud to offer our investors a stake in something substantial, sustainable, and transformational.”
RailRoad Lofts offers a thoughtfully curated mix of one-, two-, and three-bedroom floor plans and a suite of high-end amenities designed for modern urban living. Residents will enjoy a luxury clubhouse with a full kitchen and coffee bar. Resident lounge and business center with conference rooms, full-service fitness facility, and resort-style swimming pool and outdoor cooking stations. It will also have crushed granite walking trails lit with festoon lighting, leading to an adjacent entertainment district, options for surface parking, covered carports, & enclosed garages, and on-site EV charging stations.
The development is being financed through a 40-year fixed-rate HUD loan, one of the most coveted financial tools in multifamily real estate. Approximately, $57 million will be funded through HUD, with the remaining $13 million open to private investors as limited partners.
Edited from news release.
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