Thaxton Road Apartments
Thaxton Road Apartments is a proposed Class A multifamily community planned near the intersection of Slaughter Lane and Thaxton Road in south Austin. Led by an affiliate of The NRP Group and preliminarily induced by the Travis County Facilities Corporation, the development is conceived as an approximately 280-unit community offering one-, two-, and three-bedroom homes alongside market-oriented amenity spaces typical of contemporary multifamily projects. The inducement authorizes the parties to negotiate a term sheet and pursue equity and debt financing while clarifying that public entities are not obligated for project debt; details on unit affordability, financing structure, development budget and amenities will be established in subsequent agreements and regulatory documents following due diligence and final approvals.
Details
Documents
Resolution No. TCFC-2025-09
March 6, 2025
To induce and approve the development of the Thaxton Road Apartments project in partnership with an affiliate of the NRP Group; authorize the negotiation and execution of a term sheet outlining the project details; and address related matters. This resolution serves as a preliminary, non-binding commitment from TCFC. The project, estimated at $78.5 million, will include approximately 280 units with affordable housing components (20% at 60% AMI and 30% at 80% AMI). The resolution also outlines the anticipated fees for TCFC and indemnification provisions. It clarifies that this is not a final commitment and TCFC reserves the right not to proceed with the transaction.
