Applicants must make 60 percent of the area’s median income, which is approximately $78,000, according to city of Round Rock Planning Director Brad Wiseman, in order to qualify for one of the 256 units planned for the development. It will be located on the northwest corner of A.W. Grimes and Old Settlers Boulevard and will be one of only a handful of income-restricted apartment complexes in the city.“There is a huge need in this entire region and all across Texas,” said Craig Lintner, senior vice president of Pedcor, to the council during the meeting.
Wiseman said the Shadow Ridge Apartments will resemble any market rate apartment project in the area, as it is held to the same construction standards. However, Shadow Ridge Apartments will lease for about $200 less per month than a comparable market rate apartment, he said.
While the units will be income-restricted, Mayor Pro Tem Craig Morgan made the distinction at last week’s city council meeting that it is not Section 8 housing, stating that complexes like Shadow Ridge Apartments tend to attract middle-income professionals, such as teachers.
A few residents who own neighboring properties spoke in opposition to the complex at the meeting, each stating the nature of the development and its affordable housing designation was something they were not interested in living or working next to. They also expressed concern that the development could negatively impact their property values.
While having an apartment complex adjacent to residential property may not be ideal for some, the property allocated for the Shadow Ridge Apartments has been zoned for multi-family housing for more than a decade.
“One of our goals of our comprehensive plan in the city of Round Rock is to provide diversity of housing choice to serve a diverse set of needs in the community, and that spans all types, generations, different incomes and family sizes. This will definitely fill that need,” Wiseman said.
No date has been set for construction to begin on the project.
