The Brick and Mortar District Phase IA is a 300-unit multi-family project on approximately 10 acres as part of The Brick and Mortar District at Plum Creek development in Kyle, TX. The project was completed in March 2023 and was stabilized in about nine months. Named Costar multifamily development of the year in 2023. The project was financed under the HUD 221(d)(4) program with a 42-year fixed rate of 2.73%.
Cardinal Real Estate Developments
The Brick and Mortar District at Plum Creek | Phase 1B
Phase IB, 299 units, is set to close in December 2024 under the innovative HUD 241a program and scheduled to be completed by 2026.
Oxly at The Merc
348-unit multi-family project located on 11 acres. Oxly completed the first phase of the mixed-use development The Merc, near The University of Texas at San Antonio, The Shops at La Cantera & The Rim Shopping Center. The projected was financed through the HUD 221(d)(4) program with a 42-year fixed rate of 3.25%.
Lyric at the Merc
a 300-unit multi-family project located on 9.27 acres at The Merc. The project was completed in mid-April 2024 and is already 75% leased. The Lyric was financed under the HUD 221(d)(4) program with a 42-year fixed rate of 2.9%.
The Merc | San Antonio
A 116-acre mixed use development near The University of Texas at San Antonio. The property is zoned for 998 multi-family units, 110 townhomes, 119,000 sf of retail, 300,000 sf of office and a 120-room hotel.
Enclave on Ross Road
Cardinal MF LLC is near to completing Enclave, a 288-unit multi-family project on approximately 10.090 acres in Austin, Texas. Construction was completed in November 2023 and stabilized in March 2024. The project is about two miles from the Tesla plant in Austin.
Goodnight Ranch
a 340-unit multi-family project located on 13.48 acres in Austin, Texas. Construction on Goodnight Ranch is scheduled to begin in July 2025 and be completed in 2027.
Magnolia Living
A 200-unit project located on 9.55 acres under construction in Odessa, Texas. Magnolia Living in Odessa is an age-restricted (62+) community developed under the 4% low-income tax credit (LIHTC) program. The project was completed in April, 2024 and financed under the HUD 221(d)(4) program with a 42-year fixed rate of 2.70%.
Vera in Odessa
A 288-unit project located on 12.97 acres completed in October 2022 in Odessa, Texas. Vera in Odessa is a multi-family community developed under the 4% low-income tax credit (LIHTC) program. The projected stabilized in about 8 months and was financed under the HUD 221(d)(4) program with a fixed rate of 2.75%.
Palo Alto
SoSA is a 336-unit low-income housing tax credit (LIHTC) project located. The site is directly across Loop 410 from Palo Alto College and very close to Texas A&M San Antonio, the Toyota Plant, and the newly announced University Hospital location. The project is expected to be completed in February 2025 and was financed under the HUD 221(d)(4) program with a fixed rate of 4.5%.
The Hudson
A 285-unit project located on 12.91 acres in Denton, Texas. The Hudson is a multi-family community under the 4% low-income tax credit (LIHTC) program. The Hudson was completed in December 2024 and was financed through the HUD 221(d)(4) program with a fixed rate of 4.7%.