Barkley Meadows Homes
The Barkley Meadows Homes project, approved under Resolution No. TCFC-2024-07 by the Travis County Facilities Corporation, proposes the development of 168 single-family homes for rent in partnership with an affiliate of Barkley Meadows, LLC. Located at 4402 E. Highway 71, this multi-family housing project aims to provide decent, safe, and sanitary housing at affordable prices for residents of Travis County, Texas. The project is categorized as a Workforce housing initiative, with 20% of the units (34 homes) designated for residents earning up to 60% of the Area Median Income (AMI) and 30% of the units (51 homes) for those earning up to 80% AMI. The remaining 83 homes will be available at market rates.
Details
Documents
Resolution No. TCFC-2024-07
May 9, 2024
To induce approximately 168 single family rental homes known as the Barkley Meadows Homes 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 Build-for-Rent
May 9, 2024
The CBRE report evaluates the proposed Barkley Meadows Build-for-Rent project in Del Valle, Texas. This second phase of a two-phased development consists of 168 single-family and duplex-style units. The project will be owned by the Travis County Facilities Corporation (TCFC) through a 75-year ground lease, benefiting from a 100% property tax exemption. In return, 30% of units will be reserved for tenants at 80% of the area median income (AMI) and 20% at 60% AMI. Analysis shows the development is feasible only with tax abatements and rent restrictions.
