Live Oak Apartments, an income-restricted apartment complex, will break ground Tuesday at 4121 Williams Drive, according to the project’s developer, Pedcor Investments.
Construction on the 108-unit complex is expected to finish before November 2018, and preleasing should begin in summer 2018, according to Pedcor.
The development is one of three new affordable housing developments that received approval in 2016 from Georgetown City Council. The other developments are Kaia Pointe and Merritt Heritage, both of which are also proposed to be located on Williams Drive.
All three developments received low-income housing tax credit grants last year from the Texas Department of Housing and Community Affairs: Live Oak Apartments received $1.5 million, Kaia Pointe received more than $1.3 million and Merritt Heritage received more than $1.1 million, according to the department.
Live Oak Apartments will include one-, two- and three-bedroom units, according to Georgetown city planning documents. All of the complex’s units will have rent restricted by tenant income, with about half of the 108 units set aside for tenants with incomes at or below 60 percent of the area median income, according to planning documents.