AMTEX closes financing and starts construction on 225 apartments for seniors in Austin

Limestone Ridge Apartments
Artist’s conceptual rendering of AMTEX’s Limestone Ridge Apartments in Austin.

AMTEX Multi-Housing, LLC, announced today that it closed financing and started construction on Limestone Ridge Apartments—a multifamily affordable housing community being constructed in Austin at 7011 McKinney Falls Parkway.

When completed, Limestone Ridge Senior Apartments will be a community for 55+ seniors with annual incomes of up to 60 percent of the area median income (AMI), which in Travis County, is $45,420 for a two-person household. The community will offer 223 one- and two-bedroom units plus two 2-bedroom units allocated for on-site managers. The community will also feature a one-story clubhouse and will have 405 surface parking spaces or 1.8 spaces per unit.

Residents at Limestone Ridge will enjoy onsite amenities including a swimming pool, walking trail and a community garden, as well as close proximity to McKinney Falls State Park.

Social services will be available onsite at no cost to tenants. Examples of services provided at previous AMTEX projects include: a monthly character building program; quarterly financial planning courses; quarterly health nutrition programs; notary public services; twice monthly arts and crafts, and other recreational activities; twice monthly onsite social services events; an annual health fair and annual income tax preparation assistance.

The 225-unit project represents the second partnership between AMTEX and the Travis County Housing Finance Corporation, having previously partnered on McKinney Falls Apartments a 312-unit family apartment community that is in the final stages of construction and is scheduled for completion in April 2020. Construction on Limestone Ridge is expected to be completed in the Fall of 2021, with residents moving in immediately thereafter.

Limestone Ridge Apartments is the tenth affordable housing project for AMTEX Multi-Housing, Inc. in Texas that is either completed or under construction.

“We appreciate the Travis County Housing Finance Corporation for partnering again with us on this project to bring 225 new apartment homes for seniors to the Austin community,” said Arjun Nagarkatti, President of AMTEX Multi-Housing. “When completed, Limestone Ridge will be a wonderful place for area seniors to call home.”