Barkley Meadows Apartments
The Barkley Meadows Apartments project, approved under Resolution No. TCFC-2024-08 by the Travis County Facilities Corporation, proposes the development of a 408-unit multifamily residential complex in partnership with an affiliate of Barkley Meadows, LLC. Located at 4402 E. Highway 71, this project will feature a mix of studio, one-, two-, and three-bedroom units. The development is designed to provide affordable and quality housing for residents of Travis County, Texas. It is categorized as a Workforce housing initiative, with 20% of the units (82 apartments) designated for residents earning up to 60% of the Area Median Income (AMI) and 30% of the units (123 apartments) for those earning up to 80% AMI. The remaining 203 units will be available at market rates.
Details
Documents
Resolution No. TCFC-2024-08
May 9, 2024
To induce approximately 408 single family rental apartments known as the Barkley Meadows Apartments to be developed in partnership with an affiliate of Barkley Meadows, LLC located at approximately 4402 E. Highway 71; to authorize negotiation of a term sheet; and to take other related actions, subject to the terms outlined in the resolution.
Financial Analysis - Barkley Meadows Multifamily
May 9, 2024
The CBRE report analyzes the Barkley Meadows Multifamily project, a 408-unit development in Del Valle, Texas. This is Phase 1 of a two-phase project. The property will be owned by Travis County Facilities Corporation (TCFC) under a 75-year ground lease, with a 100% property tax exemption. In return, 30% of units will be for tenants at 80% of the area median income (AMI) and 20% at 60% AMI. The analysis shows the development is feasible only with tax abatements and rent restrictions.
