Winding Trails / FLATZ 130 Apartments
The Winding Trails Apartments project, approved under Resolution No. TCFC-2024-05 by the Travis County Facilities Corporation, proposes the development of a Class-A multifamily residential housing complex in partnership with an affiliate of Z Modular. Located near the intersection of FM 973 and SH 130, the development will feature approximately 396 units, including studio, one-, two-, and three-bedroom apartments. This project aims to provide decent, safe, and sanitary housing at affordable prices for residents of Travis County, Texas. It is designated as a Workforce housing initiative, with a significant portion of the units allocated for residents earning up to 60% and 80% of the Area Median Income (AMI). The initiative is part of a broader effort to address the affordable housing shortage in the area, ensuring equitable access to quality housing for all income brackets.
Details
Documents
Resolution No. TCFC-2024-05
May 9, 2024
To induce approximately 396 units of multifamily residential housing known as the Winding Trails Apartments to be developed in partnership with an affiliate of Z Modular located at approximately the intersection of FM 973 and SH 130; to authorize negotiation of a term sheet; and to take other related actions, subject to the terms outlined in the resolution.
Resolution No. TCFC-2024-11
September 5, 2024
To authorize the Flatz-130 Apartments transaction with Z Modular, including the execution of all documentation necessary to carry out the transaction; to authorize the purchase of the land for the transaction and the lease of such land for the transaction; to authorize the Travis County Facilities Corporation to serve as the general contractor; to authorize other matters in connection therewith.
Resolution No. HATC-2024-21
December 5, 2024
To approve the Citizen House Apartments, the Citizen House Bergstrom Apartments, the Citizen House Gilbert Apartments, the Citizen House Howard Apartment Project, the Belmont Project, the Preakness Apartment Project, the UG Oak Hills Apartment Project, the William Cannon Apartment Project, the Real Street Apartment Project, the Ross Road Apartment Project, the Rodeo Apartment Project, the Flats-130 Apartment Projects, the Gregg Lane Apartment Project, the Barkley Meadows Apartments, the Barkley Meadows Homes Project; and other matters in connection therewith.
Financial Analysis - Flatz 130 Apartments
May 9, 2024
The CBRE report evaluates the Flatz 130 Apartments project in Austin, Texas. The development will feature 396 units across ten 3-story buildings on a 55.83-acre site. Managed by the Travis County Facilities Corporation, the project will have a 100% property tax exemption for 75 years. Thirty percent of units will be for tenants at 80% of the area median income (AMI) and 20% at 60% AMI. The analysis covers development costs, income scenarios, and feasibility under different tax and rent conditions, showing the project is feasible only with tax abatements and rent restrictions.
